Why C3.ai Stock Got Crushed Today
Shares of enterprise-software company C3.ai (NYSE: AI) got crushed on Thursday after the company announced full-year results for its fiscal 2021. Wall Street seemed disappointed, with at least five analysts lowering their price targets for the stock. As a result, the stock was down 10% as of 11 a.m. EDT today.
For fiscal 2021, C3.ai grew revenue 17% year over year to $183.2 million, ahead of guidance and analysts' expectations. This is a young company with relatively few customers, meaning customer growth is a key indicator for the long-term health of the business. On that front, C3.ai ended its fiscal year with 89 enterprise customers, up 82% from this time last year -- great progress.
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Source Fool.com
