C3.ai is falling today after JPMorgan published bearish coverage on the stock. The firm's analysts downgraded their rating on C3.ai stock and maintained a one-year price target of $28 per share. As of this writing, the analyst's target still implies additional downside risk of 27%.

Shares of C3.ai Inc. AI slid 8.51% to $38.18 Wednesday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX rising 0.82% to 6,084.19 and the Dow Jones Industrial Average DJIA falling 0.

C3.ai (AI) stock gained following a positive earnings report and guidance update. However, it wasn’t enough to change my opinion of the company

C3.ai beat expectations on both top and bottom lines in the quarter ended Oct. 31, reporting $94.3 million in fiscal Q2 sales (Wall Street forecast $91 million), and losing $0.06 per share, rather than the expected loss of $0.16 per share.