Where Will C3.ai Stock Be in 3 Years?
C3.ai (NYSE: AI) was one of the hottest tech debuts of 2020. But today, the enterprise artificial intelligence (AI) software company's stock trades nearly 70% below its initial public offering (IPO) price. C3.ai lost its luster as investors fretted over its slowing growth, ongoing losses, and high valuations. Rising interest rates exacerbated that pain. But could this out-of-favor stock recover over the next three years?
C3.ai only expects its revenue to rise 1% to 7% in fiscal 2023, which ends next April. That would represent a severe slowdown from its 38% growth in fiscal 2022 and 17% growth in fiscal 2021.
The company mainly attributes that slowdown to macroeconomic headwinds. That's because it provides most of its AI algorithms, which can be integrated into an organization's existing software infrastructure or sold as stand-alone services, to large customers in the macro-sensitive energy and industrial sectors.
Source Fool.com
