The latest trading session saw C3.ai, Inc. (AI) ending at $20.59, denoting a +1.43% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 1.81%. Meanwhile, the Dow experienced a rise of 1.56%, and the technology-dominated Nasdaq saw an increase of 2.06%.
Prior to today's trading, shares of the company had lost 2.96% over the past month. This has was narrower than the Computer and Technology sector's loss of 7.27% and the S&P 500's loss of 6.14% in that time.
Market participants will be closely following the financial results of C3.ai, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.21, marking a 90.91% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $108.4 million, up 25.18% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.47 per share and revenue of $388.47 million. These totals would mark changes of 0% and +29.67%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for C3.ai, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. Right now, C3.ai, Inc. possesses a Zacks Rank of #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 36% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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