C3.ai Soars 16% After Forecasting Better
C3.ai’s better-than-expected Q4 and FY2023 revenue & profit forecast lifts stock 16.14%, driving other
C3.ai’s better-than-expected Q4 and FY2023 revenue & profit forecast lifts stock 16.14%, driving other
C3.ai Soars 16% After Forecasting Better-
C3.a1’s fourth quarter and fiscal year 2023 forecast looks brighter than expected, as the AI software company posted third-quarter results that topped Wall Street estimates. The revenue was driven by a consumption-based pricing model, which provides clients with greater flexibility and improved demand for its solutions. Analysts at Piper Sandler believe that the business optimism will continue to fuel growth in the sector.
Shares of C3.ai jumped 16.14% to $24.73 before the bell, and were among the top five stocks trending on StockTwits. Other major AI stocks such as Steelcase Inc, BigBear.ai, SoundHound AI and Thailand’s Guardforce AI also saw strong premarket moves with gains between 5.4% and 12%. Microsoft Corp’s investment in OpenAI’s ChatGPT has further fuelled enthusiasm among retail buyers towards AI firms in recent times. It is clear that these companies are set to benefit from this trend in the coming months.