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C3.ai (AI) stock plummeted 26% last Monday after the enterprise artificial intelligence (AI) company delivered shocking preliminary results that prompted Oppenheimer to slash its rating and estimates. C3.ai expects Q1 fiscal 2026 revenue of just $70.2-70.4 million, a 33% drop from prior guidance and 19% decline from last year's $87.2 million. Oppenheimer analyst Timothy Horan downgraded the tech stock to “Perform” from “Outperform,” removing his $45 price target entirely.