C3.ai price target lowered to $24 from $29 at Piper Sandler

Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on C3.ai to $24 from $29 and keeps a Neutral rating on the shares. The firm notes C3.ai posted mixed Q1 results, with total revenues coming in line with expectations, while margins and EPS came in better than expected. Results were driven by broad-based growth and a focus on expense management. Despite the adjusted operating margin beat of $9.5M, FY25 targets were reiterated both on the margin as well as on the top line, Piper adds.