KeyBanc Reiterates Underweight Rating on C3.ai

KeyBanc analyst Eric Heath reiterated an Underweight rating and $6.00 price target on C3.ai (NYSE: AI).

“Modest F4Q Revenue Beat; Visibility into Profitability and a Return to Growth Still Uncertain; Reiterate Underweight following a modest F4Q revenue beat and FY27 guide above.

In Tom Siebel’s first quarter back as CEO, F4Q revenue beat by 2%, driven by a solid subs revenue beat.

Mgmt called recent sales performance “entirely unacceptable” and is refocusing GTM, noting it is on the path to realizing $130M of the total $135M savings planned from the recent restructuring.

We view the steps to improve costs and sales execution as positive for the business but remain cautious on the large losses and low visibility into a path back toward growth. Maintain $6 PT.”

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