Benzinga | Dec 2, 2021 07:24AM EST

Analysts Slash Price Targets On C3.ai Post Q2 Results

* Analysts lowered their price targets on C3.ai (NYSE:AI) following the Q2 results.

* Piper Sandler analyst Arvind Ramnani lowered the price target to $44 from $78, implying a 30% upside, and reiterated an Overweight.

* The company delivered a fiscal Q2 revenue and margin performance modestly above Street expectations and slightly lifted 2022 guidance, Ramnani notes.

* He believes C3.ai is progressing against critical initiatives to transform its growth trajectory but dropped the price target to reflect peer-group compression.

* Needham analyst Jack Andrews maintained a Buy and lowered the price target from $122 to $103, implying a 204.2% upside.

* Price Action: AI shares traded higher by 2.42% at $34.65 in the premarket session on the last check Thursday.