JPMorgan Chase & Co. Upgrades CI&T (NYSE:CINT) to Overweight

JPMorgan Chase & Co. upgraded shares of CI&T (NYSE:CINT) from a neutral rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $7.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price target on shares of CI&T in a research report on Monday, March 17th. Citigroup started coverage on CI&T in a research report on Friday, April 25th. They issued a “buy” rating and a $7.00 price target for the company. Wedbush set a $9.00 price target on CI&T in a research report on Monday, February 3rd. Finally, Cowen restated a “buy” rating on shares of CI&T in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.14.

CI&T Stock Performance

NYSE:CINT opened at $6.42 on Monday. The company has a market capitalization of $864.66 million, a P/E ratio of 49.39 and a beta of 1.24. CI&T has a 1 year low of $3.39 and a 1 year high of $8.04. 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 business has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $6.35.

CI&T (NYSE:CINT) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $110.88 million during the quarter, compared to analysts’ expectations of $111.48 million. CI&T had a net margin of 4.39% and a return on equity of 9.55%. During the same quarter last year, the firm posted $0.30 earnings per share. On average, analysts expect 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 added to or reduced their stakes in the business. BW Gestao de Investimentos Ltda. lifted its stake in CI&T by 20.8% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company’s stock worth $16,387,000 after purchasing an additional 464,529 shares during the last quarter. WCM Investment Management LLC lifted its stake in CI&T by 3.2% during the fourth quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock worth $8,747,000 after purchasing an additional 45,574 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in CI&T during the fourth quarter worth about $3,036,000. Aberdeen Group plc bought a new stake in CI&T during the first quarter worth about $1,681,000. Finally, Renaissance Technologies LLC lifted its stake in CI&T by 110.0% during the fourth quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock worth $678,000 after purchasing an additional 58,500 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

CI&T Company Profile

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.