C3.ai Stock Is Rising Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
C3.ai Inc (NYSE:AI) shares are trading higher after the company reported better-than-expected financial results for its fiscal fourth quarter. The company reported revenue of $86 million, beating estimates, and an adjusted loss of 11 cents per share, also better than expected. C3.ai generated $18.8 million in free cash flow and ended the quarter with $750.4 million in cash and equivalents. The company expects first-quarter revenue to be between $84 and $89 million and full-year revenue between $370 and $395 million. Despite the positive results, Needham analyst Mike Cikos reiterated a Hold rating on the stock.
May 30, 2024 | 1:09 pm
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POSITIVE IMPACT
C3.ai reported better-than-expected Q4 financial results, with revenue of $86 million and an adjusted loss of 11 cents per share. The company also generated $18.8 million in free cash flow and has strong cash reserves. Positive revenue guidance for Q1 and the full year further boosts investor confidence.
The better-than-expected financial results and strong revenue guidance are likely to boost investor confidence and drive the stock price higher in the short term. The company's strong cash position and positive outlook for Enterprise AI demand further support this positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100