C3.ai jumps over 6% as Northland raises target to $16
Analyst Mike Latimore upgraded the enterprise software provider to Outperform following the launch of C3 Code.
C3.ai shares rose more than 6% on October 12 after Northland Capital upgraded the enterprise AI software provider to Outperform from Market Perform. Northland analyst Mike Latimore raised the price target to $16 from $10, which implies an upside of approximately 39% compared to the prior close.
The brokerage pointed to the launch of C3 Code as a key catalyst to attract customers faster and drive stronger revenue growth. The platform enables users to build and deploy applications using natural language, using autonomous agents to cut development time for new agentic AI applications from months to days.
C3 Code can shrink time to create new agentic AI applications to days from months, accelerating time to on-board new customers and expand at current customers. Given C3's core platform investment, such applications can leverage the latest and/or most cost effective LLMs and run with optimal security and reliability.
To market the tool, C3.ai introduced an Accelerator program. Its first event brought together 110 people across 46 companies, prompting the company to schedule three additional Accelerator events. Northland expects revenue growth to accelerate as enterprise spending on artificial intelligence picks up.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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