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Why C3.ai, Inc. (AI) Outpaced the Stock Market Today
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In the latest trading session, C3.ai, Inc. (AI - Free Report) closed at $11.53, marking a +1.68% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.6%. Elsewhere, the Dow gained 0.83%, while the tech-heavy Nasdaq added 0.64%.
Coming into today, shares of the company had gained 8.31% in the past month. In that same time, the Computer and Technology sector gained 4.03%, while the S&P 500 gained 1.34%.
The investment community will be paying close attention to the earnings performance of C3.ai, Inc. in its upcoming release. On that day, C3.ai, Inc. is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 12%. Meanwhile, our latest consensus estimate is calling for revenue of $53.1 million, down 29.34% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.76 per share and a revenue of $222.61 million, signifying shifts of +43.7% and -11.05%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for C3.ai, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.36% lower. C3.ai, Inc. presently features a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Why C3.ai, Inc. (AI) Outpaced the Stock Market Today
In the latest trading session, C3.ai, Inc. (AI - Free Report) closed at $11.53, marking a +1.68% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.6%. Elsewhere, the Dow gained 0.83%, while the tech-heavy Nasdaq added 0.64%.
Coming into today, shares of the company had gained 8.31% in the past month. In that same time, the Computer and Technology sector gained 4.03%, while the S&P 500 gained 1.34%.
The investment community will be paying close attention to the earnings performance of C3.ai, Inc. in its upcoming release. On that day, C3.ai, Inc. is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 12%. Meanwhile, our latest consensus estimate is calling for revenue of $53.1 million, down 29.34% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.76 per share and a revenue of $222.61 million, signifying shifts of +43.7% and -11.05%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for C3.ai, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.36% lower. C3.ai, Inc. presently features a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.