C3.ai price target lowered to $19 from $25 at JMP Securities

JMP Securities analyst Patrick Walravens lowered the firm’s price target on C3.ai to $19 from $25 but keeps an Outperform rating on the shares. The company’s Q2 results were generally better than expected with subscription revenue growth accelerating to 26% from 24% last quarter, the analyst tells investors in a research note. C3.ai investors are justifiably skeptical after a "bumpy road", but he continues to like the stock’s long-term opportunity as the company has built an effective, scalable enterprise AI solution that solves problems with large economic impact in a variety of industries and offers a massive addressable market opportunity estimated at $191B in 2021, Walravens adds.