C3.ai, Inc. (AI) Increases Yet Falls Behind Market: What Investors Need to Know
C3.ai, Inc. (AI) closed the most recent trading day at $26.63, moving +1.72% from the previous trading session. This move lagged the S&P 500's daily gain of 2.11%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 2.96%.
Heading into today, shares of the company had gained 2.91% over the past month, outpacing the Computer and Technology sector's gain of 1.69% and lagging the S&P 500's gain of 3.08% in that time.
Analysts and investors alike will be keeping a close eye on the performance of C3.ai, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 28, 2024. The company's earnings per share (EPS) are projected to be -$0.28, reflecting a 366.67% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $75.92 million, indicating a 13.87% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.73 per share and a revenue of $305.58 million, demonstrating changes of -73.81% and +14.54%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for C3.ai, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, C3.ai, Inc. boasts a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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C3.ai, Inc. (AI) : Free Stock Analysis Report
