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The company beat the Zacks Consensus Estimate in the last four quarters, delivering an earnings surprise of 43.73% on average.
Let’s see how things have shaped up before the announcement.
Factors to Watch
C3.ai’s third-quarter performance is likely to have gained from C3 Generative AI solutions and increased demand for its Enterprise AI software.
Strong momentum across generative AI solutions, owing to its introduction of C3 Generative AI to address challenges in large language models and provide multimodal solutions, is expected to have aided the company's performance in the to-be-reported quarter.
C3.ai's consistent innovation in the AI space is evident through its recognition as one of the Fortune 50 AI Innovators. The release of the platform version of the 8.3 product line and ongoing efforts to upgrade customers from version 7 to version 8.3 are expected to have boosted customer satisfaction during the fourth quarter.
The company's efforts to diversify its customer base and engage with clients across various industries, such as manufacturing, federal, defense, aerospace, and pharmaceuticals, are expected to have contributed significantly to revenue growth.
Beyond innovation and product capability, C3.ai has leveraged strong sales capabilities through strategic partnerships with tech giants like Booz Allen Hamilton, Microsoft, Amazon Web Services (AWS), and Google Cloud. These partnerships in the reported quarter are anticipated to have driven overall growth for the company.
However, C3 AI's top line might have continued to face challenges due to sales headwinds and prolonged decision cycles.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
C3.ai has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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C3.ai (AI) Gears Up to Report Q3 Earnings: What's in the Cards?
C3.ai (AI - Free Report) is set to release its third-quarter fiscal 2024 results on Feb 28.
The company anticipates third-quarter fiscal 2024 revenues to be between $74 million and $78 million.
The Zacks Consensus Estimate for revenues is pegged at $75.92 million, indicating an increase of 13.87% from the year-ago quarter’s reported figure.
The consensus mark for loss has been stable in the past 30 days at 28 cents per share.
C3.ai, Inc. Price and EPS Surprise
C3.ai, Inc. price-eps-surprise | C3.ai, Inc. Quote
The company beat the Zacks Consensus Estimate in the last four quarters, delivering an earnings surprise of 43.73% on average.
Let’s see how things have shaped up before the announcement.
Factors to Watch
C3.ai’s third-quarter performance is likely to have gained from C3 Generative AI solutions and increased demand for its Enterprise AI software.
Strong momentum across generative AI solutions, owing to its introduction of C3 Generative AI to address challenges in large language models and provide multimodal solutions, is expected to have aided the company's performance in the to-be-reported quarter.
C3.ai's consistent innovation in the AI space is evident through its recognition as one of the Fortune 50 AI Innovators. The release of the platform version of the 8.3 product line and ongoing efforts to upgrade customers from version 7 to version 8.3 are expected to have boosted customer satisfaction during the fourth quarter.
The company's efforts to diversify its customer base and engage with clients across various industries, such as manufacturing, federal, defense, aerospace, and pharmaceuticals, are expected to have contributed significantly to revenue growth.
Beyond innovation and product capability, C3.ai has leveraged strong sales capabilities through strategic partnerships with tech giants like Booz Allen Hamilton, Microsoft, Amazon Web Services (AWS), and Google Cloud. These partnerships in the reported quarter are anticipated to have driven overall growth for the company.
However, C3 AI's top line might have continued to face challenges due to sales headwinds and prolonged decision cycles.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
C3.ai has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
The Gap (GPS - Free Report) has an Earnings ESP of +24.44% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Gap’s shares have declined 7% year to date. GPS is set to report its fourth-quarter 2023 results on Mar 7.
SEMrush (SEMR - Free Report) has an Earnings ESP of +23.08% and a Zacks Rank of 2 at present.
SEMrush’s shares have declined 7.6% year to date. SEMR is set to report its fourth-quarter 2023 results on Mar 4.
SentinelOne (S - Free Report) has an Earnings ESP of +16.3% and a Zacks Rank #3.
SentinelOne’s shares have declined 0.8% year to date. S is set to report its fourth-quarter fiscal 2024 results on Mar 13.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.