C3.ai Shares Rise 2.65% as Investors Await Earnings Report
C3.ai shares closed at $12.79, up 2.65% in the latest trading session and ahead of the S&P 500’s 0.7% gain. The stock has gained 17% over the past month, while…
C3.ai Inc. laps stock-market benchmarks: shares closed at $12.79 in the latest trading session, up 2.65% from the previous day, according to Zacks Investment Research. The gain exceeded the S&P 500’s 0.7% rise, while the Dow advanced 0.28% and the Nasdaq gained 0.83%.
The move extends a stronger month for the stock. C3.ai shares had gained 17% over the past month, even as the Computer and Technology sector lost 7.7% and the S&P 500 fell 1.21%, the report said.
Investors are now looking ahead to the company’s upcoming earnings release. Zacks’ consensus estimate calls for a quarterly loss of -$0.22 per share and revenue of $53.09 million, which would be down 29.36% from the year-ago period.
The sharp contrast is clear. C3.ai has outperformed broader benchmarks over the reported periods, but the sales forecast points to a weaker year-over-year quarter. For shareholders, the upcoming report could put revenue performance alongside the stock’s recent gains in focus.
c3.ai inc laps stock, but forecasts point to lower revenue
For the full fiscal year, Zacks Consensus Estimates project earnings of -$0.76 per share and revenue of $223.01 million. Those figures imply changes of +43.7% for earnings and -10.89% for revenue from the former year, according to the source.
The estimates are projections, not reported results. The source did not provide an earnings-release date, so the timing of the report cannot be specified here.
Zacks said its consensus earnings-per-share estimate for C3.ai had moved 0.12% higher within the past month. The firm assigns the company a Zacks Rank of #3 (Hold), on a scale that runs from #1 (Strong Buy) to #5 (Strong Sell).
The ranking system considers changes in analysts’ estimates, which Zacks says can reflect shifts in near-term business trends. The source describes estimate revisions as correlated with near-term stock prices; it does not present that relationship as a guarantee of future performance.
C3.ai operates in the Computers - IT Services industry, part of the Computer and Technology sector. Zacks gives the industry a rank of 92, placing it in the top 38% of more than 250 industries. The report says the industry ranking measures the average Zacks Rank of stocks in each group.
The next company earnings release will provide the next reported measure of C3.ai’s revenue and earnings against those estimates.
Source: finance.yahoo.com
