Wedbush lowered the firm’s price target on C3.ai to $42 from $50 and keeps an Outperform rating on the shares. The firm notes C3.ai delivered its Q1 results, featuring top and bottom-line beats that will be largely overshadowed by gross margin weakness seen in the quarter and mixed guidance. Wedbush also notes that the company will no longer be non-GAAP profitable in Q4 2024 as C3 doubles down on the current Generative AI opportunity.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AI:
- C3.AI (NYSE:AI) Stock: Analysts Tread Cautiously; Profitability Concerns Overshadow AI Tailwinds
- C3.ai Stock (NYSE:AI): Commitment to Generative AI is Bullish
- C3.ai (NYSE:AI) Craters 16% after Delaying Its Path to Profitability
- C3.ai doesn’t appear to be benefitting from AI tailwinds, says BofA
- C3.ai results unlikely to quell concerns, says Deutsche Bank