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To: Sun Tzu who wrote (4073)	6/4/2022 7:46:55 AM
From: Sun Tzu	Respond to of 10744

C3.ai ( AI) shares surged more than 11% on Friday on heavy volume, one day after the enterprise software company posted mixed fourth-quarter results and said sales for fiscal 2023 would slow. Shortly after 3 p.m. EST, more than 10M shares had changed hands, more than twice the average daily volume of just over 3.1M shares. On Thursday, shares fell more than 20% following the results, which prompted several Wall Street analysts to question the company's business model. JMP Securities analyst Patrick Walravens, who rates C3.ai ( AI) shares market outperform, noted that the performance of its shares have been "extremely disappointing," while also noting deals were pushed out from the fourth-quarter. Walravens also noted that "lower-than-expected" revenue performance obligations, or RPO, of $477.4M, compared to estimates of $489.2M, up 62% year-over-year compared to 90% growth in the previous quarter highlight worries over slowing sales. Morgan Stanley analyst Sanjit Singh called out the fact that the "lumpiness" in C3.ai's ( AI) business is still a challenge and concerns about deals being pushed into fiscal 2023 "are signs of tougher spend [environment]." "Lowering [fiscal 2023 revenue] growth outlook shows that [management] is being proactive about de-risking estimates, but a lumpy model + an uncertain macro make it tougher to assess risk/reward in the [near-term]," Singh added. In March, investment firm Morgan Stanley lowered its price target on the C3.ai ( AI) to $20 from $31, while maintaining its underweight rating on the stock. ======= FYI, I sold my AI shares, but will buy again at the right prices.