CI&T (NYSE:CINT) Shares Gap Up - What's Next?

Key Points

• CI&T shares opened higher, rising from a prior close of $3.67 to $3.88 before trading at $3.79, though volume was light at 2,640 shares.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $6.08 price target, following multiple target cuts and a downgrade from Wedbush; Zacks Research issued a “strong sell” rating.
• CI&T reported quarterly revenue of $142.82 million, exceeding estimates, but EPS of $0.07 missed expectations of $0.09. Institutional investors own a substantial 92.45% of the company’s shares.

CI&T Inc. (NYSE:CINT - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $3.67, but opened at $3.88. CI&T shares last traded at $3.79, with a volume of 2,640 shares traded.

Analyst Upgrades and Downgrades

CINT has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of CI&T from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, August 12th. UBS Group reduced their price objective on shares of CI&T from $7.20 to $6.20 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Wedbush downgraded CI&T from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $7.00 to $4.00 in a report on Tuesday, July 21st. TD Cowen lowered their target price on CI&T from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Finally, Zacks Research lowered CI&T from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.08.

CI&T Price Performance

The firm has a market capitalization of $510.06 million, a P/E ratio of 13.07 and a beta of 0.81. The company has a fifty day moving average of $3.48 and a 200 day moving average of $4.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.31.

CI&T (NYSE:CINT - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). CI&T had a return on equity of 11.69% and a net margin of 6.79%.The firm had revenue of $142.82 million for the quarter, compared to the consensus estimate of $140.05 million. Sell-side analysts predict that CI&T Inc. will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On CI&T

Several hedge funds and other institutional investors have recently bought and sold shares of CINT. Cubist Systematic Strategies LLC boosted its position in CI&T by 93.8% during the first 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 during the last quarter. Goldman Sachs Group Inc. raised its position in shares of CI&T by 551.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,061 shares of the company's stock worth $442,000 after acquiring an additional 62,688 shares in the last quarter. Jane Street Group LLC bought a new position in shares of CI&T in the 1st quarter worth about $163,000. Acadian Asset Management LLC lifted its stake in shares of CI&T by 47.7% in the 1st quarter. Acadian Asset Management LLC now owns 90,353 shares of the company's stock valued at $531,000 after purchasing an additional 29,200 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of CI&T by 176.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,684 shares of the company's stock valued at $67,000 after purchasing an additional 7,456 shares during the period. Institutional investors and hedge funds own 92.45% of the company's stock.

CI&T Company Profile

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.

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