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Shares Of C3.ai Inc. (NYSE: AI): Are They Overvalued Compared To Others?

C3.ai Inc. (NYSE:AI) shares, rose in value on Thursday, 05/25/23, with the stock price up by 2.01% to the previous day’s close as strong demand from buyers drove the stock to $28.41.

Actively observing the price movement in the last trading, the stock closed the session at $27.85, falling within a range of $27.01 and $30.6999. The value of beta (5-year monthly) was 1.61. Referring to stock’s 52-week performance, its high was $34.68, and the low was $10.16. On the whole, AI has fluctuated by 60.60% over the past month.

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With the market capitalization of C3.ai Inc. currently standing at about $3.38 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 30, 2023 – Jun 05, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.09 for fiscal year -$0.46 and then to about -$0.32 by fiscal year 2024. Data indicates that the EPS growth is expected to be 37.00% in 2024, while the next year’s EPS growth is forecast to be 30.40%.

Analysts have estimated the company’s revenue for the quarter at $71.32 million, with a low estimate of $70.56 million and a high estimate of $72.3 million. According to the average forecast, sales growth in current quarter could jump down -1.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $265.67 million, representing an increase of 5.10% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 3 upward and no downward review(s) in last seven days. We see that AI’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

12 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 6 analyst(s), 2 recommend it as a Buy and 0 called the AI stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 3 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AI currently trading nearly 31.13% and 25.74% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.33, while the 7-day volatility ratio is showing 10.88% which for the 30-day chart, stands at 8.61%. Furthermore, C3.ai Inc. (AI)’s average true range (ATR) is 2.24. The company’s stock has been forecasted to trade at an average price of $19.70 over the course of the next 52 weeks, with a low of $12.00 and a high of $30.00. Based on these price targets, the low is 57.76% off current price, whereas the price has to move -5.6% to reach the yearly target high. Additionally, analysts’ median price of $18.50 is likely to be welcomed by investors because it represents an increase of 34.88% from the current levels.

A comparison of C3.ai Inc. (AI) with its peers suggests the former has fared considerably weaker in the market. AI showed an intraday change of 2.01% in last session, and over the past year, it grew by 67.71%%. In comparison, Microsoft Corporation (MSFT) has moved higher at 3.85% on the day and was up 25.54% over the past 12 months. On the other hand, the price of Alphabet Inc. (GOOG) has risen 2.23% on the day. The stock, however, is off 17.39% from where it was a year ago. Additionally, there is a gain of 2.13% for Alphabet Inc. (GOOGL) in last trading while the stock has seen an overall depriciation of 16.52%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.88%. Meanwhile, the Dow Jones Industrial Slipped by -0.11%.

Data on historical trading for C3.ai Inc. (NYSE:AI) indicates that the trading volumes over the past 10 days have averaged 29.33 million and over the past 3 months, they’ve averaged 21.31 million. According to company’s latest data on outstanding shares, there are 110.73 million shares outstanding.

Nearly 3.00% of C3.ai Inc.’s shares belong to company insiders and institutional investors own 44.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 28.94 million shares as on Apr 27, 2023, resulting in a short ratio of 1.12. According to the data, the short interest in C3.ai Inc. (AI) stood at 25.79% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 24.8 million. The stock has risen by 153.89% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AI stock heading into the next quarter.

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