C3 AI acquisition odds jump with CEO news - analyst
By: Joshua Fineman, SA News Editor
The chance that C3 AI (NYSE: AI) may be acquired has significantly increased after the company announced that it has started a search to replace CEO Tom Siebel amid health issues with the company's leader.
"We believe that coming off the news that Siebel is stepping down as CEO significantly increases the chances of C3 being an M&A over the next 3-12 months," Wedbush analyst Dan Ives, who has an outperform and $35 price target on C3 AI, wrote in a note on Thursday.
Ives views C3 AI (NYSE: AI) "as one of the most attractive M&A targets with the company's laser focus on the convergence of AI, big data, and cloud computing," Ives added.
"After being diagnosed with an autoimmune disease in early 2025, I have experienced significant visual impairment,” Siebel. Chairman and CEO of C3 AI said in a statement. "For C3 AI to reach its full potential – which I believe is spectacular – the board and I have initiated a search for a new CEO who can take the company to the next level of growth and success."
Shares of C3 AI (NYSE: AI) dropped 9.5% amid the news about the CEO's pending departure. |
