As C3.ai Inc (NYSE: AI) gears up to report first-quarter earnings post-market on Thursday, expectations are for a negative 13 cents in earnings per share (EPS) and $86.94 million in revenues.
The stock has had a rough ride, down 25.61% over the past year and 18.65% year-to-date.
Let’s delve into the current state of C3.ai stock through market charts and its alignment with analysts’ forecasts.
C3.ai Stock Signals Strong Bearish Trend Pre Q1 Earnings
C3.ai finds itself entrenched in a firmly bearish trajectory. Closing at $23.45 on Tuesday, the stock exhibits bearish indications by trading below its key five, 20, and 50-day exponential moving averages.
Despite a marginal 0.47% rise during the day, C3.ai remains below its 8-day, 20-day, and 50-day simple moving averages, signaling persistent bearish sentiment.
The stock’s position well under the 200-day moving average further reinforces the long-term bearish outlook.
Key indicators such as the Moving Average Convergence Divergence (MACD) at -0.89 paint a bearish picture. However, an almost oversold Relative Strength Index (RSI) at 37.33 hints at a possible turnaround or limited buying activity.
Bollinger Bands (25) hovering between $22.57 and $26.61 align with the downtrend, with the stock residing in the lower band.
While technical signals point firmly bearish, the RSI nearing oversold levels suggests a potential for recovery.
C3.ai Analysts Eye 17% Upside Potential
Ratings & Consensus Predictions: Analyst sentiment leans towards an Outperform rating for C3.ai stock, with a target price of $32.21.
Top analysts from Morgan Stanley, Canaccord Genuity, and Piper Sandler project a 16.81% upside, setting an average price target of $27.33.
Rev up your engines investors, we’re in for a bumpy ride as C3.ai’s fortunes hang in the balance amidst turbulent markets.
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