CI&T (NYSE:CINT) Upgraded at JPMorgan Chase & Co.

CI&T (NYSE:CINT) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $7.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.86% from the stock’s current price.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price objective on shares of CI&T in a research report on Monday, March 17th. Wedbush set a $9.00 price objective on CI&T in a research report on Monday, February 3rd. Cowen reiterated a “buy” rating on shares of CI&T in a research report on Wednesday. Finally, Citigroup initiated coverage on CI&T in a research report on Friday, April 25th. They issued a “buy” rating and a $7.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.14.

CI&T Stock Performance

CINT opened at $6.15 on Monday. The firm has a market capitalization of $828.02 million, a P/E ratio of 47.30 and a beta of 1.24. The stock’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $6.35. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. CI&T has a 12-month low of $3.39 and a 12-month high of $8.04.

CI&T (NYSE:CINT) last released its earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). CI&T had a net margin of 4.39% and a return on equity of 9.55%. The business had revenue of $110.88 million during the quarter, compared to analyst estimates of $111.48 million. During the same period last year, the business earned $0.30 EPS. On average, 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 hedge funds and other institutional investors have recently modified their holdings of the stock. BW Gestao de Investimentos Ltda. lifted its position in shares of CI&T by 20.8% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company’s stock worth $16,387,000 after buying an additional 464,529 shares during the period. WCM Investment Management LLC increased its holdings in CI&T by 3.2% during the 4th quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock valued at $8,747,000 after purchasing an additional 45,574 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in CI&T during the 4th quarter valued at $3,036,000. Aberdeen Group plc acquired a new stake in CI&T during the 1st quarter valued at $1,681,000. Finally, Renaissance Technologies LLC increased its holdings in CI&T by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock valued at $678,000 after purchasing an additional 58,500 shares in the last quarter. Institutional investors own 92.45% of the company’s stock.

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.