CI&T (NYSE:CINT) Shares Up 6.6% – What’s Next?

CI&T Inc. (NYSE:CINT)’s share price was up 6.6% during mid-day trading on Monday . The stock traded as high as $6.62 and last traded at $6.50. Approximately 68,588 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 99,903 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

CINT has been the subject of several recent research reports. Wedbush set a $9.00 price target on shares of CI&T in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of CI&T from a “neutral” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Monday. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of CI&T in a research note on Monday, March 17th. Cowen reiterated a “buy” rating on shares of CI&T in a research report on Wednesday, May 14th. Finally, Citigroup assumed coverage on CI&T in a research report on Friday, April 25th. They set a “buy” rating and a $7.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CI&T has a consensus rating of “Moderate Buy” and a consensus price target of $8.14.

CI&T Price Performance

The company’s fifty day moving average price is $5.71 and its 200 day moving average price is $6.35. The company has a market capitalization of $874.09 million, a P/E ratio of 49.93 and a beta of 1.24. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.39.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $110.88 million during the quarter, compared to the consensus estimate of $111.48 million. CI&T had a net margin of 4.39% and a return on equity of 9.55%. During the same period last year, the firm earned $0.30 EPS. As a group, sell-side analysts forecast that CI&T Inc. will post 0.2 EPS for the current year.

Hedge Funds Weigh In On CI&T

Several institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of CI&T by 551.2% during the first quarter. Goldman Sachs Group Inc. now owns 74,061 shares of the company’s stock worth $442,000 after purchasing an additional 62,688 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of CI&T by 93.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 36,356 shares of the company’s stock valued at $217,000 after acquiring an additional 17,601 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of CI&T in the 1st quarter valued at about $103,000. Hsbc Holdings PLC bought a new stake in shares of CI&T during the 1st quarter valued at about $62,000. Finally, Aberdeen Group plc bought a new position in shares of CI&T in the first quarter valued at approximately $1,681,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

About CI&T

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.