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Is C3.ai Stock a Buy Now?

TheMotleyFool

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Is C3.ai Stock a Buy Now?: https://g.foolcdn.com/editorial/images/779010/androids-in-suits.jpg

C3.ai (NYSE: AI) posted its latest earnings report on Wednesday, May 29. For the fourth quarter of fiscal 2024, which ended on April 30, the enterprise AI software company's revenue rose 20% year over year to $87 million and exceeded analysts' expectations by $2 million. It narrowed its adjusted net loss from $15 million to $14 million, or $0.11 per share, which also cleared the consensus forecast by $0.19.

The stock rallied after that earnings beat, but it still trades nearly 40% below its initial public offering price and more than 85% below its all-time high. Should investors buy it as a turnaround play right now?

Image source: Getty Images.

Source Fool.com

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