Why C3.ai, Inc. (AI) Outpaced the Stock Market Today

The most recent trading session ended with C3.ai, Inc. (AI) standing at $26.59, reflecting a +1.3% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 1.17%. At the same time, the Dow added 0.88%, and the tech-heavy Nasdaq gained 1.4%.

Coming into today, shares of the company had gained 28.05% in the past month. In that same time, the Computer and Technology sector gained 2.41%, while the S&P 500 gained 2.46%.

Analysts and investors alike will be keeping a close eye on the performance of C3.ai, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 29, 2024. In that report, analysts expect C3.ai, Inc. to post earnings of -$0.31 per share. This would mark a year-over-year decline of 138.46%. Meanwhile, the latest consensus estimate predicts the revenue to be $82.72 million, indicating a 14.23% increase compared to the same quarter of the previous year.

It is also important to note the recent changes to analyst estimates for C3.ai, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, C3.ai, Inc. possesses a Zacks Rank of #3 (Hold).

The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 35% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Zacks Names #1 Semiconductor Stock

It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.

With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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