In the latest trading session, C3.ai, Inc. (AI) closed at $28.71, marking a +1.23% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.05%.
The stock of company has risen by 17.38% in the past month, leading the Computer and Technology sector's gain of 7.44% and the S&P 500's gain of 5.37%.
Market participants will be closely following the financial results of C3.ai, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.15, showcasing a 200% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $104.12 million, indicating a 19.39% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.37 per share and a revenue of $467.27 million, indicating changes of +9.76% and +20.1%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for C3.ai, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. C3.ai, Inc. is currently a Zacks Rank #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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C3.ai, Inc. (AI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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