In the latest trading session, C3.ai, Inc. (AI) closed at $17.14, marking a -2.5% move from the previous day. This move lagged the S&P 500's daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.48%, and the technology-centric Nasdaq increased by 0.46%.
Heading into today, shares of the company had lost 8.25% over the past month, lagging the Computer and Technology sector's gain of 6.61% and the S&P 500's gain of 2.38%.
Analysts and investors alike will be keeping a close eye on the performance of C3.ai, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.33, showcasing a 450% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.14 million, down 20.35% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.33 per share and a revenue of $299.06 million, indicating changes of -224.39% and -23.13%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for C3.ai, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the 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 witnessed an unchanged state. 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. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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