Why C3.Ai Shares Are Getting Hammered Today

C3.Ai AI shares are trading lower after the company reported fourth-quarter financial results and issued guidance.

C3.ai reported quarterly losses of $0.21 per share which beat the analyst estimate of a loss of $0.29 and sales results of $72.30 million which beat the analyst estimate of $71.28 million.

The company expects first-quarter sales to be between $65 million - $67 million, which is below the analyst estimate of $74.44 million.

C3.Ai also expects full-year 2023 sales to be between $308 million - $316 million, which is below the analyst estimate of $333.88 million.
 

AI Price Action: C3.Ai has traded between $13.37 and $70.30 over a 52-week period.

The stock was down 23.7% at $14.15 at press time, according to data from Benzinga Pro.