Is C3.ai Stock a Buy Now?
C3.ai's (NYSE: AI) stock plunged nearly 25% during after hours trading on June 1 following its fourth-quarter earnings release. The artificial intelligence (AI) software company's revenue rose 38% year-over-year to $72.3 million, which beat analysts' expectations by about $1 million.
Its adjusted net loss widened from $33 million to $76.7 million, or $0.21 per share, but still topped the consensus forecast by $0.08. But on a generally accepted accounting principles (GAAP) basis, its net loss ballooned from $55.7 million to $192.1 million. The company's guidance for the current quarter and the full year also disappointed investors.
The stock plunged in the immediate aftermath of the report, but by Friday's close was trading for more than it was prior to the quarterly report's release. However, the stock is down 36% so far this year. Should investors accumulate some shares of C3.ai after its latest report, or does this former high-flying stock have a lot more room to fall?
Source Fool.com
