CI&T (NYSE:CINT) Stock Price Down 10.6% – Should You Sell?

CI&T Inc. (NYSE:CINT)’s share price was down 10.6% during mid-day trading on Friday . The stock traded as low as $6.18 and last traded at $6.22. Approximately 73,025 shares changed hands during trading, a decline of 22% from the average daily volume of 93,761 shares. The stock had previously closed at $6.96.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of CI&T in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price for the company. Itau BBA Securities raised shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Friday, August 16th. Canaccord Genuity Group lifted their price objective on CI&T from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Citigroup upped their target price on shares of CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price objective on CI&T from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

CI&T Price Performance

The stock has a 50-day simple moving average of $6.90 and a 200 day simple moving average of $5.89. The stock has a market capitalization of $829.32 million, a P/E ratio of 47.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.80 and a current ratio of 1.80.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Friday, August 16th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $100.45 million during the quarter, compared to the consensus estimate of $104.75 million. CI&T had a net margin of 4.97% and a return on equity of 10.93%. On average, equities analysts forecast that CI&T Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP raised its stake in shares of CI&T by 12.5% during the third quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock worth $183,000 after buying an additional 2,995 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of CI&T during the 2nd quarter valued at $76,000. State Street Corp lifted its stake in shares of CI&T by 28.8% in the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock valued at $458,000 after purchasing an additional 15,083 shares during the period. Marshall Wace LLP boosted 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 worth $479,000 after purchasing an additional 65,457 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of CI&T during the second quarter worth $2,264,000. Institutional investors own 92.45% of the company’s stock.

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.