Oversold, C3.AI (AI) is an attractive opportunity on its latest pullback. 

While it’s currently a falling knife, the drop is overdone at this point, oversold on RSI, MACD and Williams’ %R. Helping, earnings were solid with the company posting an EPS loss of six cents, which beat estimates by 10 cents. 

Revenue of $94.3 million, up 28.8% year over year, beat by $3.28 million. 

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The company also expects fiscal 2025 revenue to be between $378 million and $398 million, which is up from its prior range of $370 million to $395 million. Analysts were projecting $382.6 million. As for the third quarter, C3.ai expects for revenue of between $95.5 million and $100.5 million, with the midpoint of $98 million above expectations for $97.5 million.

Also, analysts at JMP Securities reiterated its market perform rating on the AI stock with a price target of $55 from $40. Piper Sandler also raised its price target on AI to $42 from $24.

Sincerely,

Ian Cooper