C3.ai, Inc. (AI) ended the recent trading session at $12.49, demonstrating a -4.22% change from the preceding day's closing price. This change lagged the S&P 500's 2.06% loss on the day. Meanwhile, the Dow lost 1.76%, and the Nasdaq, a tech-heavy index, lost 2.39%.
Shares of the company witnessed a loss of 10.81% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.71%, and the S&P 500's gain of 1.63%.
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 -$0.29, showcasing a 141.67% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $75.82 million, indicating a 23.24% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.2 per share and revenue of $298.63 million. These totals would mark changes of -192.68% and -23.24%, respectively, from last year.
It's also important for investors to be aware of any recent modifications 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. C3.ai, Inc. presently features 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 74, this industry ranks in the top 31% of all industries, numbering over 250.
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.
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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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