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This AI stock surged 33% in a week; Here’s why

This AI stock surged 33% in a week; Here’s why

The world is witnessing an extraordinary boom in artificial intelligence (AI) technology, igniting a fervor of excitement and anticipation across industries. As a result, AI stocks have experienced an unprecedented surge, with investors flocking to capitalize on the immense potential of this rapidly evolving field.

One of the stocks included in that AI bandwagon is the AI software maker (NYSE: AI). Its shares soared more than 33% in the past week, boosted by a positive earnings update and the ever-increasing investor interest in the burgeoning technology. 

On Monday, May 15, issued a better-than-expected revenue guidance, with the AI firm now expecting Q4 2023 revenue in the range of $72.1 million to $72.4 million, up from the previous forecast range of $70 million to $72.2 million. The company said it anticipates an adjusted operating loss for the same quarter to be between $23.7 million and $23.9 million, narrower than the earlier prediction of $24 million to $28 million. 

Founded by billionaire businessman and technologist Tom Siebel, closed an impressive 43 deals in the third quarter ended January, and reiterated strong customer interest in its consumption-based pricing model. 

“The market has changed for enterprise AI. It’s just exploding, and we’re seeing that in our business pipeline. We’re in a pretty good position here. We have the product, the channel, and the sales organization.”

said Tom Siebel, founder and CEO of

Stock price analysis

At the time of writing, on May 18,’s stock was trading at $26.95 after jumping more than 14% in the Wednesday session. Over the past week, the Chicago-based company saw its share price advance 33.09%. 

Since the start of 2023, the software maker’s shares have more than doubled, up over 135% year-to-date, propelling its market cap to $2.93 billion.’s YTD price chart. Source: TradingView

1-year price forecast

Despite the recent climb,’s stock is rated as ‘neutral’ on TradingView, based on 12 analyst ratings over the past three months. 2 experts believe the stock is a ‘strong buy,’ and 6 recommended a ‘hold.’ Meanwhile, 1 analyst rated it as a ‘sell,’ and 3 suggested a ‘strong sell.’

1-year price forecast for Source: TradingView

Looking ahead, the consensus price target for’s shares, based on ten analyst opinions offering a one-year price target, currently stands at $19.70, implying a possible downside of 26.90%. 

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