C3.ai, Inc. (AI) closed at $22.33 in the latest trading session, marking a -1.5% move from the prior day. This change lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the company had gained 17.52% over the past month. This has outpaced the Computer and Technology sector's gain of 8.42% and the S&P 500's gain of 8.06% in that time.
Investors will be hoping for strength from C3.ai, Inc. as it approaches its next earnings release. On that day, C3.ai, Inc. is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 13.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $65.96 million, up 25.86% from the year-ago period.
AI's full-year Zacks Consensus Estimates are calling for earnings of -$0.80 per share and revenue of $311 million. These results would represent year-over-year changes of -9.59% and +23.04%, respectively.
It is also important to note the recent changes to analyst estimates for C3.ai, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. C3.ai, Inc. is currently a Zacks Rank #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 137, which puts it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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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