C3ai (AI) Initiated with a Buy at Singular

Singular analyst Singular Research initiated coverage with a Buy rating on C3ai (AI) on August 1 and set a price target of $14.30. The company’s shares closed last Monday at $120.01.

Currently, the analyst consensus on C3ai is a Hold with an average price target of $148.89, implying a 13.5% upside from current levels. In a report released yesterday, JMP Securities also initiated coverage with a Buy rating on the stock with a $167.00 price target.

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Based on C3ai’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $41.34 million and GAAP net loss of $14.94 million. In comparison, last year the company earned revenue of $34.89 million and had a GAAP net loss of $323K.

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C3.ai Inc is an enterprise artificial intelligence company. The company provides software-as-a-service applications that enable customers to rapidly develop, deploy, and operate large-scale Enterprise AI applications across any infrastructure. It provides solutions under three divisions namely, The C3 AI Suite, is a comprehensive application development and runtime environment that is designed to allow customers to rapidly design, develop, and deploy Enterprise AI applications of any type; C3 AI Applications, include a large and growing family of industry-specific and application-specific turnkey AI solutions that can be immediately installed and deployed; and C3.ai Ex Machina, analytics for applying data science to every-day business decisions.

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