In the latest trading session, C3.ai, Inc. (AI – Free Report) closed at $48.47, marking a +0.39% move from the previous day. This change traded in line with S&P 500. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the company had gained 5.19% over the past month, lagging the Computer and Technology sector’s gain of 5.55% and outpacing the S&P 500’s gain of 4.82% in that time.
Wall Street will be looking for positivity from AI as it approaches its next earnings report date. This is expected to be December 1, 2021.
AI’s full-year Zacks Consensus Estimates are calling for earnings of -$1.13 per share and revenue of $246 million. These results would represent year-over-year changes of -25.56% and +34.26%, respectively.
It is also important to note the recent changes to analyst estimates for AI. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate remained stagnant. AI currently has a Zacks Rank of #3 (Hold).
The Computers – IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AI in the coming trading sessions, be sure to utilize Zacks.com.