Is It Too Late to Buy C3.ai Stock?
The artificial intelligence (AI) hype train sent C3.ai (NYSE: AI) stock flying in 2023, with shares of the pure-play enterprise AI software provider more than tripling so far this year.
However, C3.ai's terrific rally came to a grinding halt after the company released its fiscal 2023 results (for the year ended April 30, 2023) on May 31. A tepid outlook sent investors into panic mode and the stock is down more than 11% since the release. However, C3.ai stock is still up 215% so far in 2023. Does this mean it is too late for investors to buy the stock now even though it has dropped following its earnings report? Let's find out.
C3.ai finished fiscal 2023 with revenue of $267 million, an improvement of just 6% over the prior year. The company also reported a non-GAAP (adjusted) net loss of $0.42 per share, down from the prior year's loss of $0.73 per share. The company's fiscal 2024 outlook suggests its growth is set to accelerate.
Source Fool.com
