Where Will C3.ai Stock Be in 3 Years?
Shares of C3.ai (NYSE: AI) shot up impressively in the past month thanks to the company's better-than-expected quarterly results. The pure-play enterprise artificial intelligence (AI) software provider is on track to take advantage of the huge end-market opportunity on offer in this space.
The stock surged 50% in February and analysts at Wedbush Securities expect the bull run to continue. The firm has raised its price target on C3.ai stock from $35 to $40, which points toward a 25% upside from current levels. But can C3.ai stock sustain its momentum for the next three years? Let's find out.
In the third quarter of fiscal 2024 (ended on Jan. 31, 2024), C3.ai reported an 18% year-over-year increase in revenue to $78.4 million. The figure exceeded the company's guidance range of $74 million to $78 million. For the current quarter, C3.ai is forecasting $82 million to $86 million in revenue, the midpoint of which is slightly higher than consensus estimates of $83.9 million.
Source Fool.com
