C3 AI downgraded to Market Perform from Outperform at Northland

Northland analyst Michael Latimore downgraded C3 AI (AI) to Market Perform from Outperform with a price target of $17, down from $35, after the company announced preliminary revenue and subscription estimates that came in lower than the firm’s forecasts “at a time of strong enterprise AI demand.” The firm is downgrading the stock until the company gets closer to profitable growth, the analyst tells investors.