CI&T (NYSE:CINT) Shares Gap Down – Here’s Why

CI&T Inc. (NYSE:CINT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.24, but opened at $4.14. CI&T shares last traded at $4.3320, with a volume of 1,082 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research lowered CI&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Canaccord Genuity Group decreased their target price on CI&T from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings downgraded CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, December 26th. Finally, JPMorgan Chase & Co. cut their price objective on CI&T from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CI&T has an average rating of “Moderate Buy” and a consensus price target of $7.16.

CI&T Stock Performance

The stock has a fifty day simple moving average of $4.52 and a 200-day simple moving average of $5.03. The stock has a market cap of $583.84 million, a P/E ratio of 16.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40.

CI&T (NYSE:CINT) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $127.31 million for the quarter, compared to analyst estimates of $673.11 million. CI&T had a return on equity of 12.42% and a net margin of 7.83%. On average, equities analysts expect that CI&T Inc. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On CI&T

Several hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. bought a new stake in shares of CI&T in the third quarter worth $56,000. Wedbush Securities Inc. acquired a new stake in CI&T in the 3rd quarter valued at $58,000. Hsbc Holdings PLC acquired a new stake in CI&T in the 1st quarter valued at $62,000. Russell Investments Group Ltd. lifted its position in CI&T by 176.3% during the 2nd 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 in the last quarter. Finally, Centiva Capital LP acquired a new position in shares of CI&T during the 3rd quarter worth about $72,000. 92.45% of the stock is owned by 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.