Canaccord Genuity Group Reaffirms Buy Rating for CI&T (NYSE:CINT)

CI&T (NYSE:CINT)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $10.00 price target on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 57.48% from the company’s current price.

A number of other brokerages also recently commented on CINT. UBS Group boosted their price objective on shares of CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. TD Cowen started coverage on shares of CI&T in a research note on Friday, December 6th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Wedbush set a $9.00 price objective on shares of CI&T in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.37.

CI&T Stock Performance

CI&T stock opened at $6.35 on Monday. The company has a 50 day moving average price of $6.82 and a 200-day moving average price of $6.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.58 and a current ratio of 1.58. CI&T has a fifty-two week low of $3.34 and a fifty-two week high of $8.04. The company has a market capitalization of $853.52 million, a PE ratio of 48.85 and a beta of 1.18.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.36). CI&T had a net margin of 4.39% and a return on equity of 9.55%. The company had revenue of $112.34 million for the quarter, compared to the consensus estimate of $646.68 million. As a group, equities analysts forecast that CI&T will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On CI&T

Several institutional investors and hedge funds have recently bought and sold shares of CINT. Stifel Financial Corp purchased a new stake in shares of CI&T during the fourth quarter valued at $68,000. Virtu Financial LLC purchased a new stake in shares of CI&T during the third quarter valued at $108,000. Two Sigma Investments LP purchased a new stake in shares of CI&T during the fourth quarter valued at $111,000. Cubist Systematic Strategies LLC lifted its position in CI&T by 82.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company’s stock valued at $114,000 after purchasing an additional 8,459 shares during the period. Finally, Verde Servicos Internacionais S.A. acquired a new position in CI&T during the fourth quarter valued at $152,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

About CI&T

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.