Yahoo Finance Why the Market Dipped But C3.ai, Inc. (AI) Gained Today
The latest trading session saw C3.ai, Inc. (AI) ending at $22.69, denoting a +0.71% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.23%, and the technology-centric Nasdaq decreased by 0.33%.
Coming into today, shares of the company had lost 12.54% in the past month. In that same time, the Computer and Technology sector lost 4.23%, while the S&P 500 lost 4.05%.
The investment community will be closely monitoring the performance of C3.ai, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on May 29, 2024. It is anticipated that the company will report an EPS of -$0.29, marking a 123.08% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $82.72 million, showing a 14.23% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for C3.ai, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, C3.ai, Inc. is carrying a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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C3.ai, Inc. (AI) : Free Stock Analysis Report
