Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

C3.ai stock forecast: AI shares tests its make-or-break point

The C3.ai (NYSE: AI) stock price jumped by almost 10% in the pre-market after the strong financial results by Nvidia. The stock jumped to $30.3 on Thursday, which is about 80% above the lowest level in May, making it one of the best performers in the industry. Other AI stocks like Guardforce AI and AITX also jumped.

Why AI stock is soaring

The main reason why the C3.ai share price is soaring is the strong results by Nvidia. In a statement, the company said that its revenue jumped by more than 19% to $7.19 billion. Its data center revenue rose to $4.2 billion while gaming revenue jumped by 22% to $2.24 billion. Pro Visualization’s revenue soared to $295 million. Talking about AI, the company’s Colette Kress said:

“Generative AI drove significant upside in demand for our products, creating opportunities and broad-based global growth across our markets.”

Watch here: https://www.youtube.com/embed/Z7k15fQxQ1Y?feature=oembed

C3.ai stock price jumped because of its association with artificial intelligence since the company provides these solutions to companies. Further, the shares jumped after the company expressed an optimistic outlook of the company. 

C3.ai said that its revenue is doing much better than expected. In a statement, Thomas Siebek, the company’s CEO said that its revenue will be between $72.1 million and $72.4 million in the first quarter. That will be higher than the previous guidance of $71.1 million.

C3.i also believe that its net cash from activities will be between $28.1 million and $29.5 million while the free cash flow will be between $18M and $19.4M. 

Still, there are concerns about the company’s valuation. At the current price, the company’s valuation stands at $3.1 billion, which is significantly high since the company is expected to break even in FY 2026.

C3.ai stock price forecast

Is it safe to buy C3.ai stock? The AI stock price has been in a strong bullish trend in the past few months as the artificial intelligence hype continues. The stock jumped to a high of $30.72 in the pre-market session. It has jumped above the 50-day and 100-day exponential moving averages (EMA) while the MACD has moved above the neutral point.

The stock is forming what looks like a triple-top pattern whose neckline is at $16.82. Therefore, more upside will be confirmed if the shares move above the upper side of the triple-top pattern. If this happens, the next key level to watch will be at $42.70, the lowest point in October 2021.

The post C3.ai stock forecast: AI shares tests its make-or-break point appeared first on Invezz.

Trending

You May Also Like

Latest News

A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

Stock

Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

Latest News

Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

Latest News

President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Oracleofomahasays.com