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2021-09-22
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C3.ai Stock Is Still Too Pricey Despite Its Sharp Correction
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Most recently, AI stock plunged after releasing subpar first-quarter results. Investors had high hopes for the company, but it has failed to deliver the kind of growth rates they were expecting.</p>\n<p>Though AI stock is reaching the buy zone, it’s still remarkably expensive, making it tough to invest in.</p>\n<p>C3.ai hadone of the top initial public offeringsof the past year, which saw its stock price quadruple. It hit its all-time high of $170 back in February, a near four-fold gain from the $42 IPO price. Since then, it has given back nearly all of that. In the past six months, the stock has generated a negative return of 38%.</p>\n<p>However, despite its recent dip, AI stock is still trading at over 21 times forward sales. Though some buy-the-dip opportunities can arise in the future, at this point, the stock is still overpriced.</p>\n<p><b>Operating Performance Behind AI Stock</b></p>\n<p>C3.ai recently posted its first-quarter results where its bottom-line losses widened from the prior-year period.Its revenues rose to $52.4 million, representing a healthy 29% increase on a year-over-year basis. Additionally, subscription revenues of $46.1 million increased by a substantial 29% from the same period last year. At the same time, it posted a massive net loss of $37.5 million compared to a minuscule profit of $150,000 from the prior year period.</p>\n<p>Looking ahead, it expects second-quarter revenues to come in at $56 million to $58 million, which is in line with analyst estimates. Similarly, its full-year revenue forecast of$243 million to $247 millionis also in line with consensus estimates.</p>\n<p>On paper, the top-line results may seem impressive but considering its past performance, and it’s a step backward. Revenues increased 88%, 48%, and 71% in 2018, 2019 and 2020, respectively. However, in fiscal 2021 the company’s revenues rose just 17%. The management has blamed the pandemic-fueled slowdown, which disrupted the energy and industrial markets, accounting for most of its sales.</p>\n<p>The company expects its operating losses to widen from $60.3 million to over$107 millionin fiscal 2022 as it looks to ramp up its investments. CFO Dave Barter laid out the company’s intention to “invest thoughtfully in headcount in programs to accelerate our revenue growth.”</p>\n<p><b>The Bear Case Is More Compelling</b></p>\n<p>So far, the bear case for C3.ai has won out. For starters, the company has a colossal valuation of over $5.2 billion and trades at over 21x forward sales. Forward revenue estimates are at just 28%, which is considered quite normal in the enterprise software business. Moreover, it relies on a handful of customers to generate revenues.</p>\n<p>Itsmain customer is<b>Baker Hughes</b>(NYSE:<b><u>BHGE</u></b>), an oil services giant representing about a third of its revenue. On top of that, you have the company’s sizeable losses, which continue to pile up with every passing quarter. It loses virtually every dollar it makes, in GAAP terms.</p>\n<p>Investors have clung to the stock due to AI’s buzz, arguably one of the hottest areas in software today. They also have a lot of confidence in itsCEO and founder Tom Seibel, who founded Siebel Systems, later sold to software giant<b>Oracle</b>(NASDAQ:<b><u>ORCL</u></b>).</p>\n<p><b>Bottom Line On AI Stock</b></p>\n<p>AI stock has sold off considerably since its highs in February and now trades at around its IPO price of $42. However, despite the sell-off, it is still overbought and unattractive based on its lackluster performance of late.</p>\n<p>The performance of its peers is far superior at this point and they are trading at more attractive price metrics. As we advance, C3.ai has a tough road ahead to narrow down its losses and reduce its dependence on a handful of customers for its revenues.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>C3.ai Stock Is Still Too Pricey Despite Its Sharp Correction</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nC3.ai Stock Is Still Too Pricey Despite Its Sharp Correction\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-22 21:16 GMT+8 <a href=https://investorplace.com/2021/09/ai-stock-is-still-pricey-despite-its-sharp-correction/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AI stock is trading at more than 21 times forward sales with unimpressive growth rates.\n\nShares of enterprise AI platformC3.ai(NYSE:AI)have cooled off considerably from their highs in February. Most ...</p>\n\n<a href=\"https://investorplace.com/2021/09/ai-stock-is-still-pricey-despite-its-sharp-correction/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AI":"C3.ai, Inc."},"source_url":"https://investorplace.com/2021/09/ai-stock-is-still-pricey-despite-its-sharp-correction/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124142626","content_text":"AI stock is trading at more than 21 times forward sales with unimpressive growth rates.\n\nShares of enterprise AI platformC3.ai(NYSE:AI)have cooled off considerably from their highs in February. Most recently, AI stock plunged after releasing subpar first-quarter results. Investors had high hopes for the company, but it has failed to deliver the kind of growth rates they were expecting.\nThough AI stock is reaching the buy zone, it’s still remarkably expensive, making it tough to invest in.\nC3.ai hadone of the top initial public offeringsof the past year, which saw its stock price quadruple. It hit its all-time high of $170 back in February, a near four-fold gain from the $42 IPO price. Since then, it has given back nearly all of that. In the past six months, the stock has generated a negative return of 38%.\nHowever, despite its recent dip, AI stock is still trading at over 21 times forward sales. Though some buy-the-dip opportunities can arise in the future, at this point, the stock is still overpriced.\nOperating Performance Behind AI Stock\nC3.ai recently posted its first-quarter results where its bottom-line losses widened from the prior-year period.Its revenues rose to $52.4 million, representing a healthy 29% increase on a year-over-year basis. Additionally, subscription revenues of $46.1 million increased by a substantial 29% from the same period last year. At the same time, it posted a massive net loss of $37.5 million compared to a minuscule profit of $150,000 from the prior year period.\nLooking ahead, it expects second-quarter revenues to come in at $56 million to $58 million, which is in line with analyst estimates. Similarly, its full-year revenue forecast of$243 million to $247 millionis also in line with consensus estimates.\nOn paper, the top-line results may seem impressive but considering its past performance, and it’s a step backward. Revenues increased 88%, 48%, and 71% in 2018, 2019 and 2020, respectively. However, in fiscal 2021 the company’s revenues rose just 17%. The management has blamed the pandemic-fueled slowdown, which disrupted the energy and industrial markets, accounting for most of its sales.\nThe company expects its operating losses to widen from $60.3 million to over$107 millionin fiscal 2022 as it looks to ramp up its investments. CFO Dave Barter laid out the company’s intention to “invest thoughtfully in headcount in programs to accelerate our revenue growth.”\nThe Bear Case Is More Compelling\nSo far, the bear case for C3.ai has won out. For starters, the company has a colossal valuation of over $5.2 billion and trades at over 21x forward sales. Forward revenue estimates are at just 28%, which is considered quite normal in the enterprise software business. Moreover, it relies on a handful of customers to generate revenues.\nItsmain customer isBaker Hughes(NYSE:BHGE), an oil services giant representing about a third of its revenue. On top of that, you have the company’s sizeable losses, which continue to pile up with every passing quarter. It loses virtually every dollar it makes, in GAAP terms.\nInvestors have clung to the stock due to AI’s buzz, arguably one of the hottest areas in software today. They also have a lot of confidence in itsCEO and founder Tom Seibel, who founded Siebel Systems, later sold to software giantOracle(NASDAQ:ORCL).\nBottom Line On AI Stock\nAI stock has sold off considerably since its highs in February and now trades at around its IPO price of $42. However, despite the sell-off, it is still overbought and unattractive based on its lackluster performance of late.\nThe performance of its peers is far superior at this point and they are trading at more attractive price metrics. As we advance, C3.ai has a tough road ahead to narrow down its losses and reduce its dependence on a handful of customers for its revenues.","news_type":1},"isVote":1,"tweetType":1,"viewCount":650,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/869484850"}
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