C3.ai Inc.’s (NYSE:) shares slipped for a second consecutive day on Monday, closing at $24.37, a 1.93% drop, and falling $24.50 short of its 52-week high of $48.87 recorded on June 16th. This decline occurred even as the S&P 500 Index and ended the day at 4,166.82 and 32,928.96 respectively.
In contrast to C3.ai Inc.’s performance, Microsoft Corp . (NASDAQ:), Alphabet (NASDAQ:) Inc.’s Class C (NASDAQ:GOOG), and Class A (NASDAQ:GOOGL) shares exhibited gains on Monday. Microsoft’s stock price rose by 2.27% to close at $337.31, while Alphabet Inc.’s Class C and Class A shares increased by 1.90% and 1.87%, closing at $125.75 and $124.46 respectively.
An indication of waning investor interest in C3.ai Inc., the trading volume for the company remained below its 50-day average of 8.3 million shares, with only 5 million shares changing hands on Monday.
InvestingPro Insights
Delving into the real-time data from InvestingPro, C3.ai Inc. has a market capitalization of $2.880 billion and has been trading at a high revenue valuation multiple. The company’s price-to-earnings (P/E) ratio stands at -10.57, indicating that the company has not been profitable recently. Over the last three months, the price has fallen significantly by about 41.98%.
Turning to the InvestingPro Tips, it’s worth noting that the company holds more cash than debt on its balance sheet, an encouraging sign of financial stability. However, analysts do not anticipate that the company will be profitable this year. The stock has taken a significant hit over the last week and the revenue growth has been slowing down recently.
For those who want to delve deeper, there are 15 additional tips available on InvestingPro. These insights can provide you with a more comprehensive understanding of the company’s financial health and prospects.
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