C3.ai

AI · NYSE

$11.69+$0.41 (+3.63%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $11.28

AI analyst rating

HoldConsensus of 13 analysts over the last 12 months. 23% rate it a buy.

Strong buy0
Buy3
Hold6
Underperform4
Sell0

12-month price target · 15 analysts

Average $9.38 (−19.7% downside)

Low: $6.06
Now: $11.69
High: $15.75

Upgrades and downgrades

The latest rating actions, newest first

AI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Northland Capital Markets	Oct 12, 2026	Upgrade	Market Perform → Outperform	$10.00 → $16.00	35%
Citizens	Oct 2, 2026	Maintains	Market Perform	—	48%
Citizens	Sep 29, 2026	Maintains	Market Perform	—	48%
Citizens	Sep 3, 2026	Maintains	Market Perform	—	48%
DA Davidson	Sep 3, 2026	Maintains	Underperform	$7.00	43%
Canaccord Genuity	Sep 3, 2026	Maintains	Hold	$10.00	60%
Needham	Sep 3, 2026	Maintains	Hold	—	63%
DA Davidson	Sep 1, 2026	Maintains	Underperform	$7.00	43%
Canaccord Genuity	Jun 4, 2026	Maintains	Hold	$8.00 → $10.00	60%
Morgan Stanley	Jun 4, 2026	Maintains	Underweight	$6.00 → $7.00	56%

The case for and against

Updated Oct 14, 2026

Bull case

C3.ai is attractive because management sees a strong market opportunity across federal and commercial customers, while C3 Code has been meaningfully hardened with better accuracy, tooling, and model efficiency, improving its readiness for production use. The platform’s ability to address the “long tail” of enterprise use cases and to build working applications quickly is validated by the AI Accelerator event, where more than 100 participants from 46 organizations built 87 applications, reinforcing adoption potential. Financially, revenue was in-line with expectations, true subscription revenue grew 16% year over year after prior declines, non-GAAP operating loss improved to ($36.2M), and the company generated $2M of free cash flow for the first time since 4Q25.

Bear case

C3.ai is facing a weak fundamental setup because revenue growth is decelerating, with FY27 revenue guided to $225 million at the midpoint, implying negative 10% year-over-year growth and 2Q27 revenue below consensus. Customer concentration, long and unpredictable sales cycles, and intense competition raise execution risk, while the business remains highly dependent on CEO Tom Siebel and a limited number of existing customers. Despite heavy investment in sales execution and forward-deployed engineering, non-GAAP operating income is still guided to a ($139 million) loss in FY27, and gross margins are expected to fall to the mid-40s next quarter.

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