C3.ai falls as KeyBanc downgrades to 'underweight'

C3.ai

19/12/2024 13:34

** Shares of AI software maker C3.ai  AI.N  fall 2.5% to
$38.68 in premarket trading
    ** KeyBanc Capital Markets downgrades the stock to
"underweight" from "sector weight", sets PT at $29
    ** Brokerage fears large operating losses and potential risk
of Microsoft  MSFT.O  partnership not yielding material results
    ** Says concerned that consensus revenue estimates for
FY26/FY27 "may be too high considering subscription revenue
growth excluding upfront license has moderated" to a 1% drop in
Q2 
    ** Four of 11 brokerages rate the stock "buy", 5 "hold" and
6 "sell"; their median PT is $40
    ** Up to last close, stock had risen 38.2% this year

 (Reporting by Kritika Lamba in Bengaluru)
 ((Kritika.Lamba@thomsonreuters.com))