(Free Report) Today's Top 5 Stocks Priced Below $10

Investing in stocks under $10 could increase the returns on your portfolio, especially if you pick the right stocks. Within this report you will find 5 top stocks that offer the best bang for the buck. Add them to your watchlist before they take off!

By clicking the link above you will automatically opt-in to receive emails from FinStrategist

C3.Ai To Gain From Unprecedented AI Demand, Analyst Sees Over 30% Growth

Nabaparna Bhattacharya
February 29, 2024

Wedbush analyst Daniel Ives reiterated the Outperform rating on C3.Ai, Inc. (NYSE:AI), raising the price forecast to $40 from $35.

The company registered third-quarter revenues of $78.4 million, beating estimates of $76.14 million. 

Ives views this quarter as a step in the right direction for C3 as the company’s entire product portfolio continues generating unprecedented demand for its AI platform to improve operations, optimize processes, and transform businesses.

The company’s partner ecosystem continues to be productive, with bookings from partners growing 337% y/y and 62% q/q as its go-to-market strategy is driving vital pilot adoptions while enterprise AI product demand accelerates.

The analyst raised FY24 revenue forecast to $308.4 million from $308.2 million.

Canaccord Genuity analyst Kingsley Crane reiterated the Hold rating on C3.Ai, raising the price target to $31 from $27.

With new developments in AI driving broader market optimism and grabbing headlines, C3’s third-quarter results were much anticipated by investors, Crane writes.

Generative AI use cases continue to influence customer engagement, with 17 of 29 total pilots signed in the quarter driven by generative AI, the analyst adds.

 If C3 can continue the sequential growth in product revenue as seen over the past three quarters, the firm is on track to grow >30%, the analyst adds.

Needham analyst Mike Cikos reiterated the Hold rating on the company. 

Cikos sees the 85% Bookings growth with US Federal as evidence of C3.ai’s increasing importance and verticalization within the Public Sector.

KeyBanc Capital Markets analyst Eric Heath reiterated the Sector Weight rating on the stock.

While C3 may see increased demand for its AI/ML services given the high priority of generative AI in the enterprise, the analyst raised concerns about the company’s ability to broaden beyond vertical-specific AI applications and any technological differentiation in horizontal adjacencies, as well as on low model visibility given the shift to a consumption revenue model.

Oppenheimer analyst Timothy Horan reiterated Outperform rating on the company, with a price forecast of $40.

Per Horan, “AI” themes are real and durable, with C3.ai well positioned as a pure-play platform to enable enterprises to use GenAI quickly and safely, a Herculean task but with major LT benefits. 

C3’s short interest is 34% of float, so stock will remain volatile, the analyst adds.

JMP analyst Patrick Walravens maintained Market Outperform rating and a $40 price target on the company.

According to the analyst, C3.ai is an opportunity for capital appreciation as it addresses a large TAM, estimated to be ~$792 billion by 2026.

Walravens estimates the company’s R&D expense to increase to 48% of revenues in the fourth quarter versus 38% in the third quarter.

The analyst raised FY24E non-GAAP EPS to $(0.67) from $(0.74) on revenue growth of 15%.

Price Action: AI shares are trading higher by 23.9% to $36.79 on the last check Thursday.

Photo via Below the Sky on Shutterstock

Continue Reading...

Popular

Meta to Suspend Threads in Turkey Amid Regulatory Challenges, Aims for Future Reinstatement

Meta Platforms, Inc will stop operating Threads in Turkey on April 29 due to an order from the Turkish Competition Authority, but plans to appeal and reinstate the app soon. It also lowered fees for ad-free versions in Europe.

Micron Dominates High-Bandwidth Memory Market, Anticipates Significant Revenue Growth: Analyst

Kumar reiterates Overweight rating and $130 PT for Micron Technology, with promising insights into HBM market and commitment to innovation.

This Surprise AI 'Twist' Has Sent 50 Stocks up 100% or More - Ad

40% of "AI" companies don't even use AI... and many AI companies have no gains whatsoever. But AI is transforming one secret group of companies, practically overnight. Already, 50 stocks in this sector have shot up 100% or more in just 90 days. Professor Joel Litman explains everything.

Warren Buffett Is Known For His Simple Lifestyle But Here Are 8 Lavish Things We Know He Owns

Warren Buffett, the billionaire, embraces a modest lifestyle and prefers stashing his cash in the bank. Despite standing among the world's wealthiest, the priciest items he owns could surprise everyone.

Key Nvidia, Apple Supplier TSMC To Receive $6.6B From US Government For Arizona Plant

The funding, a part of the U.S. CHIPS and Science Act, will bolster TSMC's over $65 billion investment in three advanced fabrication plants in Phoenix, Arizona.

What Should You Be Doing To "A.I.-Proof" Your Retirement? - Ad

A.I. is creeping into every aspect of our daily lives... According to billion-dollar fund manager Louis Navellier, it's never been more important to A.I.-proof your wealth. He lays out three simple steps to take ASAP in his latest video.

CleanSpark Is Holding Up Better Than Other Bitcoin Mining Stocks Monday: What's Going On?

CleanSpark Inc (NASDAQ:CLSK) shares are trading slightly higher Monday despite weakness across crypto markets. Here’s a look at what’s going on.

Cathie Wood's Ark Invest Sells $20M+ Coinbase Shares As Bitcoin Trades Over $70K, Buys Palantir, Sells Nvidia Stock

On Thursday, Cathie Wood’s Ark Invest made significant trades involving Coinbase Global, Inc. (NASDAQ:COIN), Palantir Technologies Inc. (NYSE:PLTR), and Nvidia Corp.

This Defi Coin Could 10X Soon... - Ad

Do NOT miss this opportunity for life-changing gains this year. Experts are predicting this coin has potential for unprecedented growth. Even a small position could deliver 10x returns or greater very soon. Timing is everything.

The Sleeper Crypto of 2024? - Ad

One little-known coin is quietly gearing up for a potential breakout. Our analysts believe it could be the surprise crypto hit of 2024. Discover the name of this under-the-radar gem and our full analysis for just $3.

Dead whale in New Jersey had a fractured skull among numerous injuries, experts find

LONG BEACH TOWNSHIP, N.J. (AP) — A post-mortem examination of a whale that washed ashore on New Jersey's Long Beach Island found that the animal had sustained numerous blunt force injuries including a fractured skull and vertebrae.

Make This One Trade Every Time the Government Drops Economic Reports - Ad

Twelve times every year... you have the chance to make ONE simple trade... with ONE symbol... And cash out the very next day! Some have gone up to 383% OVERNIGHT! It's a way to make winning trades every time the government releases key economic data.

Russian Government-Linked Hackers Stole Federal Email Correspondence With Microsoft: CISA

Russian government-linked hackers, identified as Midnight Blizzard, have stolen email correspondences from several U.S. federal agencies and Microsoft, marking a significant cybersecurity breach.

Nvidia Set For Another Bull Run? Analyst Pitches $1,150 Target, Says 'This Time It's Bringing More Friends Along For The Run'

Despite a recent dip, chart analyst Todd Gordon of Inside Edge Capital has identified Nvidia Corporation as a strong buy, setting an ambitious target price of $1,150, citing the company's potential for an upward trend alongside a broader rally in the semiconductor industry.

10X Gains on the Horizon? - Ad

Our top pick for the next crypto boom is flying under most investors' radars. We believe this coin has the potential to deliver 10X returns or more. Get the name of the coin and our complete investment guide for just $3.

US consumer sentiment falls slightly as outlook for inflation worsens

WASHINGTON (AP) — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans' outlook largely unchanged this year.

Jim Cramer Turns Bullish On Palantir: 'Make A Move And Buy Some'

CNBC’s “Mad Money” host Jim Cramer has given a thumbs up to Palantir Technologies Inc. (NYSE:PLTR), sparking interest among investors.

Buy This A.I. Stock Before Elon's "A.I. Day" on May 16 - Ad

Luke Lango is now recommending this little-known A.I. stock because it could supply Elon Musk with a critical piece of infrastructure for his new A.I. venture, something Luke is calling "Elon's A.I. 2.0". Once Elon reveals it on May 16, you may have missed the biggest gains.

Macy's names 2 independent directors as part of agreement with activist investor

NEW YORK (AP) — Macy's said Wednesday it has named two independent directors to its board that were pushed by activist investor Arkhouse Management, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain.

Ex-Trump CFO Allen Weisselberg to be sentenced for perjury, faces second stint in jail

NEW YORK (AP) — Allen Weisselberg, a former longtime executive in Donald Trump’s real estate empire, is set to be sentenced Wednesday for lying under oath in the ex-president’s New York .

AI Hype Is Overblown -- Except One Sector Now Soaring - Ad

40% of "AI" companies don't even use AI... and many AI companies have no gains whatsoever. But AI is transforming one secret group of companies, practically overnight. Already, 50 stocks in this sector have shot up 100% or more in just 90 days. Professor Joel Litman explains everything.

Milei, the president of cash-strapped Argentina, starts another US tour and plans to meet Elon Musk

BUENOS AIRES, Argentina (AP) — President of Argentina kicked off a visit Wednesday to the United States, where he'll meet with tech billionaire , as his government seeks an infusion of cash to overhaul Argentina's embattled economy.

Thai prime minister unveils details of a $13.5 billion digital money handout plan

BANGKOK (AP) — Thailand's Prime Minister Srettha Thavisin on Wednesday revealed details of his government’s plan to stimulate the economy by giving digital cash handouts of 10,000 baht ($275) to an estimated 50 million Thais for spending at their local businesses.

Legendary Stockpicker: "Buy This A.I. Stock NOW" - Ad

His award-winning system pinpointed NVDA and META before both stocks doubled. Now it's flashing "BUY" on this under-the-radar A.I. stock.

2 Russian businessmen linked to Alfa Group win court case over EU sanctions

BRUSSELS (AP) — Russian businessmen Mikhail Fridman and Petr Aven won a court case Wednesday over a European Union decision to sanction the pair for their alleged role in Russia’s war against Ukraine.

Jeff Bezos' Next Trillion Dollar Bet (shocking) - Ad

Wall Street legend has just uncovered one tiny Maryland company that could become the next Nvidia. Few in the media are talking about this story yet...but in the next 6 months that's all they'll talk about.

What's Going On With BP Shares Premarket Friday?

ADNOC reportedly considered buying BP, but decided it wasn't the right fit for their strategy. BP has underperformed and is seen as a potential takeover target.

Vertex Pharma scientist talks about the long road to developing non-addictive painkillers

WASHINGTON (AP) — For decades, patients seeking medication for pain have had two choices: over-the-counter drugs like aspirin or powerful prescription opioids like oxycodone.

Gold Is SOARING -- Here's What You Need to Do - Ad

Everything is lining up perfectly for a historic gold bull run. One gold expert says he's found the best way to get in, for less than $5.

Uber and Lyft delay their plans to leave Minneapolis after officials push back driver pay plan

MINNEAPOLIS (AP) — The ride-hailing companies Uber and Lyft said they will delay their planned exit from Minneapolis after city officials decided Wednesday to push back the start of a driver by two months.

New York Hospital Sues AG Letitia James, Who Took On Trump, Over Alleged 'Fishing Expedition' Of Drug Testing Records

Garnet Health Medical Center is suing New York Attorney General Letitia James to dismiss a subpoena demanding medical records of obstetrics patients, arguing the investigation into secret drug testing of pregnant patients is excessively broad and politically motivated.

My No. 1 Coin Is... - Ad

You're looking for the #1 Coin to invest in... Am I right? Then check out this special $3 report. Inside, you'll find the name of the coin, how to invest, and what to expect. Don't miss your chance...

Elon Musk Gets Fresh Challenge In His X Plans As Naval's Airchat App Begins Making Buzz

AngelList co-founder Naval Ravikant has launched a new social media app called Airchat, to take on Elon Musk's hate speech-inundated X.

Trump Has 'Taken Most Unfavorable Political Position' On Abortion, Says Ex-Bush Strategist

Former Bush strategist Matthew Dowd criticizes Trump's abortion stance, suggesting a 15-16 week policy would have been better. Trump's statement faces backlash and could hurt his chances in upcoming elections.

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Biden Warns Of 'Exploding National Debt' If Trump's 'MAGA Extremists' Win Again

Joe Biden warns of potential consequences of a Trump return, including rising national debt, social security threats, and women's rights issues.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service