CI&T (NYSE:CINT) Given New $8.00 Price Target at Citigroup

CI&T (NYSE:CINT) had its price objective hoisted by equities research analysts at Citigroup from $6.00 to $8.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 10.80% from the stock’s current price.

Several other brokerages have also recently issued reports on CINT. Itau BBA Securities raised CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Friday. Canaccord Genuity Group raised CI&T from a “hold” rating to a “buy” rating and increased their price objective for the stock from $5.00 to $6.00 in a research note on Thursday, May 23rd. Wedbush assumed coverage on CI&T in a research note on Friday, May 24th. They issued an “outperform” rating and a $5.00 price objective on the stock. Canaccord Genuity Group raised CI&T from a “hold” rating to a “buy” rating and increased their price objective for the stock from $5.00 to $6.00 in a research note on Thursday, May 23rd. Finally, UBS Group started coverage on CI&T in a report on Tuesday, May 14th. They set a “neutral” rating and a $4.20 target price for the company. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.30.

CI&T Trading Up 7.0 %

CINT opened at $7.22 on Monday. The stock has a market cap of $970.45 million, a price-to-earnings ratio of 40.11 and a beta of 1.14. The stock’s 50 day moving average price is $5.63 and its 200-day moving average price is $4.71. CI&T has a one year low of $3.34 and a one year high of $8.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.82 and a current ratio of 1.82.

CI&T (NYSE:CINT) last released its earnings results on Wednesday, May 22nd. The company reported $0.06 EPS for the quarter. The firm had revenue of $105.74 million for the quarter, compared to analysts’ expectations of $103.88 million. CI&T had a return on equity of 14.03% and a net margin of 6.03%. On average, equities analysts forecast that CI&T will post 0.2 EPS for the current year.

Hedge Funds Weigh In On CI&T

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of CI&T in the 2nd quarter valued at $76,000. Banco BTG Pactual S.A. increased its position in shares of CI&T by 23.0% in the 1st quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock valued at $221,000 after acquiring an additional 10,000 shares during the period. Marshall Wace LLP increased its position in shares of CI&T by 245.6% in the 2nd quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after acquiring an additional 65,457 shares during the period. Russell Investments Group Ltd. grew its position in CI&T by 4.6% during the 4th quarter. Russell Investments Group Ltd. now owns 160,083 shares of the company’s stock worth $842,000 after purchasing an additional 7,047 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in CI&T during the 2nd quarter worth about $2,264,000. 92.45% of the stock is owned by institutional investors and hedge funds.

About CI&T

CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises and companies worldwide. It is also involved in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration, and mobility technologies.