TD Cowen Lowers CI&T (NYSE:CINT) Price Target to $6.00

Key Points

• TD Cowen cut its price target on CI&T from $8.00 to $6.00, while maintaining a buy rating. The new target still implies significant upside from the stock’s previous close.
• Analyst sentiment is mixed but positive overall: the stock has five Buy ratings, one Hold, and one Sell, with a consensus rating of Moderate Buy and an average target price of $6.64.
• CI&T reported mixed quarterly results, missing EPS estimates with $0.06 per share but beating revenue expectations at $136.61 million. Shares were up 2.1% to $3.38 on Thursday.

CI&T (NYSE:CINT - Get Free Report) had its target price reduced by TD Cowen from $8.00 to $6.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 77.51% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Wedbush decreased their target price on shares of CI&T from $9.00 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. UBS Group raised their price target on CI&T from $7.10 to $7.20 and gave the company a "buy" rating in a report on Tuesday, May 12th. Weiss Ratings cut shares of CI&T from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, June 29th. Canaccord Genuity Group increased their price objective on shares of CI&T from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. Finally, Wall Street Zen downgraded shares of CI&T from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.64.

CI&T Stock Up 2.1%

Shares of NYSE:CINT traded up $0.07 during trading on Thursday, hitting $3.38. The stock had a trading volume of 79,080 shares, compared to its average volume of 152,993. The company has a market capitalization of $454.88 million, a PE ratio of 10.90 and a beta of 0.81. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average is $3.73 and its 200 day moving average is $4.43. CI&T has a 12 month low of $3.16 and a 12 month high of $5.93.

CI&T (NYSE:CINT - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $136.61 million during the quarter, compared to analysts' expectations of $133.28 million. CI&T had a return on equity of 13.19% and a net margin of 7.90%. Analysts anticipate that CI&T will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new position in shares of CI&T in the third quarter worth approximately $56,000. Russell Investments Group Ltd. lifted its stake in shares of CI&T by 176.3% during the 2nd 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 in the last quarter. Janney Montgomery Scott LLC bought a new position in CI&T in the 1st quarter worth $60,000. Centiva Capital LP purchased a new stake in CI&T in the 3rd quarter worth $72,000. Finally, RPO LLC purchased a new stake in CI&T in the 4th quarter worth $60,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

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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