AI Stock Alert: 5 Reasons Why Shares Are Plunging Today (NYSE:AI) stock is feeling the heat on Thursday after releasing results for its fiscal second-quarter 2022 earnings report.

3d rendering ai robot think or compute AI stocks
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The bad news for AI stock doesn’t come directly from its results but rather from analysts weighing in on the company afterward. This has many lowering their ratings and price targets for AI stock.

Let’s take a look at the analyst new hitting shares today below!

AI Stock Ratings and Price Targets

  • Piper Sandler analyst Arvind Ramnani starts us off by dropping the price target for the company’s shares from $78 to $44. They also maintain an overweight rating for the stock.
  • Canaccord analyst David Hynes is up next with a new price target of $34, as compared to the previous $50. This analyst is sticking to his hold rating for the shares.
  • Wedbush analyst Daniel Ives also isn’t helping out AI stock today with a lowered price target of $45 from $70. Even so, Ives is holding onto his outperform rating for the stock.
  • JPMorgan analyst Mark Murphy also lowered their price target today from $53 to $43. Murphy also maintains his underweight rating for AI shares.
  • Finally, Bank of America analyst Brad Sills decreased the firm’s price target for AI from $64 to $40. To go along with that, he downgraded the shares from a neutral rating to underperform.

It’s also worth noting that AI stock is experiencing heavy trading today following its earnings news. This has some 8 million shares of the move as of this writing. That’s a hefty jump from the company’s daily average trading volume of around 2.7 million shares.

AI stock is down 17.4% as of Thursday morning.

Investors looking for more hot stock news today will want to stick around!

There’s plenty more stock news worth looking into today. A few examples include what has Snowflake (NYSE:SNOW) investors making snow angels, why Kirkland’s (NASDAQ:KIRK) is falling hard, as well as the news sending Phunware (NASDAQ:PHUN) stock higher. You can get all those details from the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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