CI&T (NYSE:CINT) Shares Gap Down Following Weak Earnings

CI&T Inc. (NYSE:CINT) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $6.59, but opened at $6.36. CI&T shares last traded at $6.12, with a volume of 6,867 shares changing hands.

The company reported $0.08 earnings per share (EPS) 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%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CINT. Canaccord Genuity Group upped their price objective on shares of CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Wedbush set a $9.00 target price on shares of CI&T in a research note on Monday, February 3rd. UBS Group upped their price objective on shares of CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, TD Cowen started coverage on shares of CI&T in a report on Friday, December 6th. They set a “buy” rating and a $9.00 price objective on the stock. 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 stock. According to data from MarketBeat.com, CI&T currently has an average rating of “Moderate Buy” and a consensus target price of $8.37.

Institutional Trading of CI&T

Several institutional investors and hedge funds have recently made changes to their positions in CINT. Stifel Financial Corp purchased a new stake in shares of CI&T in the fourth quarter valued at about $68,000. Virtu Financial LLC purchased a new stake in CI&T during the third quarter worth about $108,000. Two Sigma Investments LP purchased a new stake in CI&T during the fourth quarter worth about $111,000. Cubist Systematic Strategies LLC increased its holdings in CI&T by 82.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company’s stock worth $114,000 after buying an additional 8,459 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. purchased a new stake in CI&T during the fourth quarter worth about $152,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Price Performance

The business’s fifty day moving average is $6.81 and its 200-day moving average is $6.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $829.32 million, a PE ratio of 47.47 and a beta of 1.18.

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.