Why C3.ai Shares Are Rising

Shares of companies in the broader tech sector, including C3Ai Inc AI, are trading higher on continued market momentum after Pfizer and BioNTech announced the effectiveness of three doses of their vaccine against the omicron variant.

Shares of tech and software companies may possibly be trading higher in sympathy with PagerDuty Inc PD which gained following a strong third-quarter earnings report.

PagerDuty reported quarterly losses of 7 cents per share which beat the analyst consensus estimate of a loss of 9 cents per share. The company also reported quarterly sales of $72 million which beat the analyst consensus estimate of $70.04 million by 2.8%.

C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific and internationally. It offers software-as-a-service applications for enterprises. 

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C3.ai has a 52-week high of $183.90 and a 52-week low of $27.52.