Investors brace themselves as C3.ai Inc (NYSE: AI) gears up to unveil its first-quarter earnings report, with Wall Street anticipating a shortfall of 13 cents in earnings per share (EPS) and $86.94 million in revenues post-market on Thursday.
In the midst of turbulent waters, the stock has plunged 25.61% over the past year and 18.65% year-to-date.
Let’s navigate through the stormy seas and decipher how C3.ai stock is positioned vis-a-vis Wall Street’s projections.
C3.ai Stock Shows Signs of Imminent Bearishness Pre-Q1 Earnings
C3.ai finds itself entrenched in a robustly bearish market sentiment. While the stock marginally climbed to $23.45 at the Tuesday bell, marking a 0.47% increase, it continues to linger below its five, 20, and 50-day Exponential Moving Averages.
This prevailing bearish trend is validated by the stock’s position below key moving averages, including the eight-day Simple Moving Average at $23.67, 20-day SMA at $24.37, and 50-day SMA at $26.62, all signaling bearish undertones.
Furthermore, trading beneath the 200-day Simple Moving Average at $27.16 signals enduring pessimism over the long haul.
The Moving Average Convergence Divergence (MACD) indicator sits at a discouraging -0.89, reinforcing the prevailing bearish outlook. However, with a Relative Strength Index (RSI) of 37.33, the stock edges nearer to oversold territory, hinting at a possible trend reversal or mild uptick in buying activity.
The Bollinger Bands (25) fluctuate between $22.57 and $26.61, bolstering the bearish narrative as the stock hugs the lower band.
On the whole, C3.ai’s technical metrics paint a predominantly bearish picture, although the nearly oversold RSI offers a glimmer of hope for a potential recovery.
Read Also: C3.ai Stock Faces Death Cross — A Sign Of Trouble For AI Pioneer?
C3.ai Analysts Forecast a 17% Upside
Ratings & Consensus Estimates: Market experts uphold an Outperform rating for C3.ai stock, projecting a promising 17% upside with a target price of $32.21.
Recent ratings by industry stalwarts like Morgan Stanley, Canaccord Genuity, and Piper Sandler signal a potential 16.81% uptick for C3.ai, with an average price target of $27.33.
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