C3.ai tumbles after BofA downgrades to 'underperform' after results

Arlington Asset Investment

02/12/2021 16:12

** Shares of software maker C3.ai  AI.N  are down 17% at $28
after co reports a bigger Q2 net loss 
    ** Stock among the top pct losers on the NYSE 
    ** BofA Global Research, downgrades to "underperform"
rating, labeling results as "disappointing" due to a
smaller-than-expected subscription revenue 
    ** AI reports net loss was 55 cents vs 39 cents a year ago
hit by higher expenses in the quarter 
    ** At least 6 brokerages cut PT on stock, with Canaccord
Genutiy cutting to the lowest PT on Wall Street of $34; Median
PT is $45 vs $70 a month ago
    ** 4 of 10 brokerages rate the stock "buy" or higher, 3
"hold" and 3 "sell" or lower 
    ** Shares down ~80% YTD

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))