CI&T (NYSE:CINT) Shares Gap Down - Here's What Happened

Key Points

• CI&T shares fell at the open, dropping from a prior close of $3.89 to $3.67 and last trading at $3.73 on relatively light volume.
• Analyst sentiment has weakened, with several firms cutting price targets or downgrading the stock; the consensus rating is Hold with an average target of $6.08.
• CI&T’s latest quarterly results were mixed: revenue of $142.82 million exceeded expectations, but EPS of $0.07 missed the $0.09 consensus estimate. Institutional investors own approximately 92.45% of the company.

CI&T Inc. (NYSE:CINT - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.89, but opened at $3.67. CI&T shares last traded at $3.73, with a volume of 3,144 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CINT shares. UBS Group decreased 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 report on Wednesday, August 12th. Wedbush downgraded CI&T from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $7.00 to $4.00 in a report on Tuesday, July 21st. Weiss Ratings lowered CI&T from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. dropped their price objective on CI&T from $6.00 to $5.00 and set an "overweight" rating for the company in a 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, CI&T currently has a consensus rating of "Hold" and an average price target of $6.08.

CI&T Stock Performance

The company's 50-day moving average price is $3.47 and its 200 day moving average price is $4.15. The stock has a market capitalization of $480.45 million, a PE ratio of 12.31 and a beta of 0.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 1.31.

CI&T (NYSE:CINT - Get Free Report) last announced 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 net margin of 6.79% and a return on equity of 11.69%. The company had revenue of $142.82 million for the quarter, compared to analysts' expectations of $140.05 million. On average, equities research analysts expect that CI&T Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Beacon Hill Wealth Management LTD. bought a new stake in CI&T in the 2nd quarter worth about $617,000. AXQ Capital LP bought a new stake in shares of CI&T in the second quarter worth approximately $74,000. Wedbush Securities Inc. lifted its position in CI&T by 118.1% during the second quarter. Wedbush Securities Inc. now owns 41,600 shares of the company's stock valued at $139,000 after purchasing an additional 22,525 shares during the period. NewEdge Advisors LLC purchased a new stake in CI&T in the first quarter worth approximately $181,000. Finally, Lazard Asset Management LLC boosted its holdings in CI&T by 6.4% in the first quarter. Lazard Asset Management LLC now owns 102,742 shares of the company's stock worth $521,000 after purchasing an additional 6,171 shares during the last quarter. 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.

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