C3.ai: The Pullback Is An Opportunity, Accounting Allegations Appear A Stretch
Update - Apr. 24, 2023 This negative call doesn't add up. Enterprises are looking to spend more on AI and pull back in other areas. The stock appears headed straight to $14 now. -C3.ai (NYSE:AI) stock fell more than 5% on Monday as investment firm Wolfe Research downgraded the enterprise software company, citing concerns about spending. -Analyst Joshua Tilton lowered his rating on C3.ai (AI) to underperform from peer perform, while setting a per-share price target of $14, noting that there are "significant risks" to fiscal 2024 revenue growth, as spending budgets are likely to be impacted by a "negative macro outlook." -Additionally, Tilton noted that companies are continuing to consolidate their spending on software, "which in our view, threatens the uptake of C3.ai’s newly introduced consumption model." Original article posted on Apr. 6 C3.ai has seen a major pullback providing an opportunity to own a compelling AI story. The enterprise AI software ...