Analysts Cut Price Target for c3.ai, Inc.
There's been a major selloff in C3.ai, Inc. ( NYSE:AI ) shares in the week since it released its third-quarter report, with the stock down 20% to US$23.88. It was a respectable set of results; while revenues of US$99m were in line with analyst predictions, statutory losses were 13% smaller than expected, with C3.ai losing US$0.62 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company.
- The drastic drop in price target highlights the disconnect between analyst optimism about C3.ai's growth prospects and the current reality of its financial performance.
- How will investors reconcile this discrepancy, particularly considering that some analysts still maintain a relatively high price target despite the significant losses?