CI&T (NYSE:CINT) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

CI&T (NYSE:CINT) had its price objective lifted by Canaccord Genuity Group from $9.00 to $10.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 50.15% from the stock’s previous close.

CINT has been the subject of several other reports. 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. JPMorgan Chase & Co. upped their target price on shares of CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. The Goldman Sachs Group assumed coverage on shares of CI&T in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 price objective for the company. Finally, Itau BBA Securities upgraded shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.11.

CI&T Price Performance

NYSE:CINT opened at $6.66 on Monday. The stock has a market cap of $895.18 million, a P/E ratio of 51.23 and a beta of 1.16. CI&T has a one year low of $3.34 and a one year high of $8.04. The company has a fifty day moving average price of $6.89 and a 200 day moving average price of $5.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58.

Institutional Investors Weigh In On CI&T

Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of CI&T during the 2nd quarter worth about $2,264,000. XTX Topco Ltd acquired a new stake in shares of CI&T during the 2nd quarter worth about $76,000. BW Gestao de Investimentos Ltda. increased its position in shares of CI&T by 101.1% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 2,134,514 shares of the company’s stock worth $11,099,000 after purchasing an additional 1,073,302 shares in the last quarter. Marshall Wace LLP increased its position in shares of CI&T by 245.6% during 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 in the last quarter. Finally, State Street Corp increased its position in shares of CI&T by 28.8% during the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock worth $458,000 after purchasing an additional 15,083 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

CI&T Company Profile

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.