Wedbush Lowers CI&T (NYSE:CINT) Price Target to $7.00

CI&T (NYSE:CINT) had its target price reduced by stock analysts at Wedbush from $9.00 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 79.72% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of CI&T from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. UBS Group increased their price objective on CI&T from $7.00 to $7.10 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Wall Street Zen raised CI&T from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price target on CI&T from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Canaccord Genuity Group lifted their price objective on shares of CI&T from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.78.

CI&T Stock Performance

CINT opened at $3.90 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $4.77 and its two-hundred day moving average price is $4.71. CI&T has a 1-year low of $3.81 and a 1-year high of $7.09. The company has a market cap of $524.19 million, a price-to-earnings ratio of 12.98 and a beta of 0.85.

CI&T (NYSE:CINT) last released its quarterly earnings data on Monday, May 11th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $128.74 million during the quarter, compared to the consensus estimate of $133.28 million. CI&T had a net margin of 8.30% and a return on equity of 13.46%. On average, analysts expect that CI&T will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On CI&T

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new stake in CI&T during the third quarter worth about $56,000. Wedbush Securities Inc. bought a new position in shares of CI&T during the 3rd quarter valued at approximately $58,000. Janney Montgomery Scott LLC purchased a new stake in shares of CI&T during the 1st quarter worth approximately $60,000. RPO LLC purchased a new stake in shares of CI&T during the 4th quarter worth approximately $60,000. Finally, Russell Investments Group Ltd. raised its holdings 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 worth $67,000 after purchasing an additional 7,456 shares during the period. 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.