C3AI Inc: Piper Sandler sees stock pressured in near term

Arlington Asset Investment

03/06/2021 11:25

** Shares of artificial intelligence firm  AI.N  down ~9%
premarket at $69.36; set for its worst session in nearly three
months
    ** Extends Wednesday's post earnings after-market loss
 urn:newsml:reuters.com:*:nL3N2NK4AR
    ** Piper Sandler cuts PT by 30% to $98; Needham cuts to $146
from $195; median PT is $120 - Refinitiv data 
    ** Piper Sandler lowers FY22 revenue and free cash flow
estimates, cites greater conservatism in company's growth
profile; expects stock to be pressured in near term
    ** Needham notes Q4 subscription revenue was below
brokerage's as well as consensus estimates
    ** But maintains 'buy' as "AI reported a substantial
acceleration in forward-looking metrics like billings... which
confirms our confidence in AI's ability to materially accelerate
revenue in the near to mid-term"
    ** Stock down 45% YTD as of last close 

 (Reporting by Susan Mathew in Bengaluru)
 ((susan.mathew@thomsonreuters.com; +91-80-6287-2704;))