CI&T (NYSE:CINT) Shares Gap Up – Time to Buy?

CI&T Inc. (NYSE:CINT) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.57, but opened at $4.81. CI&T shares last traded at $4.88, with a volume of 74,966 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CINT. Canaccord Genuity Group decreased their price objective on shares of CI&T from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Zacks Research lowered CI&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen raised CI&T from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings raised shares of CI&T from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, UBS Group set a $7.00 price target on shares of CI&T and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, CI&T has a consensus rating of “Moderate Buy” and an average price target of $7.20.

CI&T Price Performance

The business has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $4.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $639.06 million, a price-to-earnings ratio of 17.57 and a beta of 1.15.

CI&T (NYSE:CINT) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). CI&T had a return on equity of 12.42% and a net margin of 7.83%.The company had revenue of $127.31 million for the quarter, compared to the consensus estimate of $673.11 million. As a group, research analysts anticipate that CI&T Inc. will post 0.2 EPS for the current year.

Hedge Funds Weigh In On CI&T

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. bought a new position in shares of CI&T in the third quarter valued at approximately $56,000. Wedbush Securities Inc. purchased a new position in shares of CI&T in the 3rd quarter worth about $58,000. Russell Investments Group Ltd. grew its position in CI&T by 176.3% during the second quarter. Russell Investments Group Ltd. now owns 11,684 shares of the company’s stock valued at $67,000 after buying an additional 7,456 shares during the period. Centiva Capital LP bought a new position in CI&T during the third quarter valued at about $72,000. Finally, Nipun Capital L.P. purchased a new stake in CI&T during the second quarter worth about $111,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

About CI&T

CI&T Inc (NYSE:CINT) is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.