JPMorgan Chase & Co. Cuts CI&T (NYSE:CINT) Price Target to $5.00

CI&T (NYSE:CINT) had its target price reduced by JPMorgan Chase & Co. from $6.00 to $5.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on CINT. Wall Street Zen downgraded shares of CI&T from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Wedbush downgraded shares of CI&T from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.00 in a research note on Tuesday, July 21st. TD Cowen dropped their price objective on shares of CI&T from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Zacks Research downgraded CI&T from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings lowered CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CI&T currently has an average rating of “Hold” and an average price target of $6.08.

CI&T Trading Down 0.6%

NYSE CINT opened at $3.67 on Wednesday. CI&T has a 52 week low of $3.03 and a 52 week high of $5.88. The company has a 50 day moving average price of $3.51 and a 200 day moving average price of $4.22. The company has a quick ratio of 1.37, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The firm has a market cap of $493.77 million, a PE ratio of 12.65 and a beta of 0.81.

CI&T (NYSE:CINT) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $142.82 million during the quarter, compared to analysts’ expectations of $140.05 million. CI&T had a return on equity of 11.69% and a net margin of 6.79%. As a group, sell-side analysts forecast that CI&T will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On CI&T

Several institutional investors and hedge funds have recently modified their holdings of CINT. Franklin Resources Inc. acquired a new stake in CI&T in the third quarter valued at approximately $56,000. Russell Investments Group Ltd. grew its position 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 valued at $67,000 after purchasing an additional 7,456 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of CI&T during the first quarter worth about $60,000. Centiva Capital LP purchased a new stake in shares of CI&T during the third quarter worth about $72,000. Finally, RPO LLC acquired a new position in shares of CI&T during the 4th quarter worth about $60,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Company Profile

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.