DA Davidson Reiterates Underperform Rating on C3.ai (May 13)

DA Davidson analyst Lucky Schreiner reiterated an Underperform rating and $7.00 price target on C3.ai (NYSE: AI).

“We reiterate our UNDERPERFORM and price target of $7 after the company reported preliminary results this morning in-line with guidance and announced the return of Tom Siebel as CEO.

Bookings came in worse than expected and revenue continues to decline. We still see an elongated timeline for business trends to improve.”

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