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

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

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

CI&T Stock Performance

NYSE:CINT opened at $3.90 on Tuesday. The stock’s 50-day moving average is $4.77 and its 200-day moving average is $4.71. The stock has a market cap of $524.19 million, a P/E ratio of 12.98 and a beta of 0.85. CI&T has a 1-year low of $3.81 and a 1-year high of $7.09. The company has a current ratio of 1.34, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20.

CI&T (NYSE:CINT) last posted its earnings results on Monday, May 11th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). CI&T had a return on equity of 13.46% and a net margin of 8.30%.The business had revenue of $128.74 million for the quarter, compared to analyst estimates of $133.28 million. Equities research analysts anticipate that CI&T will post 0.39 earnings per share for the current year.

Institutional Trading of CI&T

Several large investors have recently modified their holdings of CINT. Royce & Associates LP bought a new position in CI&T during the third quarter worth $2,696,000. GMT Capital Corp bought a new position in shares of CI&T during the 4th quarter worth about $1,786,000. BW Gestao de Investimentos Ltda. grew its stake in shares of CI&T by 9.2% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 2,882,650 shares of the company’s stock valued at $17,209,000 after buying an additional 242,811 shares during the period. Marshall Wace LLP increased its position in CI&T by 90.4% in the 2nd quarter. Marshall Wace LLP now owns 380,818 shares of the company’s stock valued at $2,273,000 after buying an additional 180,800 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in CI&T in the 4th quarter valued at about $287,000. Institutional investors and hedge funds 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.