Here's Why Analysts Had Mixed Opinions On Post Q4 Results

Here's Why Analysts Had Mixed Opinions On Post Q4 Results
  • Analyst opinions remained mixed about, Inc AI following its dismal FY23 guidance despite a Q4 beat.
  • Piper Sandler analyst Arvind Ramnani downgraded from Overweight to Neutral and slashed the price target from $28 to $15.
  • The re-rating reflected lackluster guidance triggered by enterprise spending softness, slower customer growth, and a dismal demand. 
  • Ramnani noted the downward revision in the FY23 revenue growth target o 23.4% from the previous 36%. Additionally, customer growth has decelerated. 
  • Ramnani saw a limited upside to top-line revenue targets as the overall environment appears pressured with a slowdown in net customer adds.
  • Needham analyst Mike Cikos maintained with a Buy and cut the price target from $26 to $20.
  • Cikos noted that the guidance revision reflected conservatism instead of the impact of the economic environment on C3's business, leaving its pipeline unscathed. 
  • Several deals dropped from 4QFY22 into FY23 based on lumpiness in the business and customer timing. 
  • Deutsche Bank analyst Patrick Colville maintained with a Sell and cut the price target from $18 to $14.5.
  • Morgan Stanley maintained with an Underweight and lowered the price target from $15 to $14.
  • JP Morgan analyst Mark Murphy maintained with a Neutral and cut the price target from $24 to $20.
  • Price Action: AI shares traded lower by 7.01% at $17.25 on the last check Thursday.

Posted In: BriefsAnalyst ColorNewsDowngradesPrice TargetReiterationSmall CapAnalyst RatingsTech

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