Wedbush Has Lowered Expectations for CI&T (NYSE:CINT) Stock Price

CI&T (NYSE:CINT) had its price objective decreased by stock analysts at Wedbush from $9.00 to $7.00 in a note issued to investors on Tuesday, Marketbeat reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 93.05% from the stock’s previous close.

Other equities research analysts 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. Canaccord Genuity Group increased 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. JPMorgan Chase & Co. cut their price target on CI&T from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. UBS Group lifted their price objective on shares of CI&T from $7.00 to $7.10 and gave the company a “buy” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of CI&T from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.80.

CI&T Stock Down 5.1%

CINT stock opened at $3.63 on Tuesday. The company has a market capitalization of $487.99 million, a P/E ratio of 11.70 and a beta of 0.85. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.18. CI&T has a twelve month low of $3.60 and a twelve month high of $7.09. The firm has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $4.69.

CI&T (NYSE:CINT) last issued its earnings results on Monday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $128.74 million during the quarter, compared to analyst estimates of $133.28 million. CI&T had a net margin of 7.90% and a return on equity of 13.19%. On average, equities research analysts predict that CI&T will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CI&T

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new position in CI&T in the 3rd quarter worth about $56,000. Wedbush Securities Inc. acquired a new position in shares of CI&T during the 3rd quarter worth $58,000. Janney Montgomery Scott LLC bought a new position in shares of CI&T during the 1st quarter valued at $60,000. RPO LLC acquired a new position in shares of CI&T during the 4th quarter valued at about $60,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of CI&T by 176.3% in the second quarter. Russell Investments Group Ltd. now owns 11,684 shares of the company’s stock worth $67,000 after buying an additional 7,456 shares during the last quarter. 92.45% of the stock is currently 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.