C3.ai, Inc. (NYSE:AI) shares are moving Monday. The company introduced its C3 Generative AI for Government Programs application before the opening bell.
The Details:
C3.ai said the new application uses generative AI to help federal, state, and local governments deliver information to the public about government programs by streamlining access and comprehension of complex government programs and processes. The company said C3 Generative AI for Government Programs runs on Google Cloud and can withstand large inquiry volumes.
"Understanding and accessing vital services and benefits programs can be an overwhelming process for many, and C3 Generative AI for Government Programs provides an easy way to get clear and quick answers to questions about the intricacies of these services," said Thomas M. Siebel, CEO of C3.ai.
"Government programs and services make the most impact when those who need them can smoothly use them. This product offers an intuitive, intelligent interface that provides trustworthy information about programs like the Affordable Care Act, alleviating staff workload, accelerating information gathering, and transforming how the public can learn about and use critical services."
C3.ai is frequently one of the top trending stocks on WallStreetBets, though it has lagged behind other stocks in the AI sector. According to data from Benzinga Pro, C3.ai shares are trading above the stock's 50-day moving average of $27.49 and 27.4% of available shares are being sold short.
AI Stock Prediction 2024:
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of C3.ai have an average 1-year price target of $30.50, representing an expected upside of 2.76%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 1 analyst has a bearish recommendation on C3.ai, while 1 analyst has a bullish rating. The street high price target from Wedbush is $40 while the street low from Morgan Stanley is $23.
AI Price Action: According to Benzinga Pro, C3.ai shares are up 1.58% at $30.15 at the time of publication Monday.
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