Why C3.ai Stock Is Plummeting Today
C3.ai (NYSE: AI) stock is sinking in Wednesday's trading. The company's share price was down 8.1% as of 11 a.m. ET. Meanwhile, the S 500 index was up 0.6%, and the Nasdaq Composite index was up 1.2%.
C3.ai is falling today after JPMorgan published bearish coverage on the stock. The firm's analysts downgraded their rating on C3.ai stock and maintained a one-year price target of $28 per share. As of this writing, the analyst's target still implies additional downside risk of 27%.
JPMorgan released its latest coverage on C3.ai stock before the market opened this morning, and investors are reacting to concerns raised in its coverage note. While the firm's analysts acknowledged that the company was chasing after large and rapidly shifting opportunities in the artificial intelligence (AI) space, they expressed disappointment with its sales growth and margin.
Source Fool.com
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