CI&T (NYSE:CINT) Shares Gap Down on Disappointing Earnings

CI&T Inc. (NYSE:CINT)’s stock price gapped down before the market opened 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 traded.

The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.36). CI&T had a return on equity of 9.55% and a net margin of 4.39%. The company had revenue of $112.34 million for the quarter, compared to analysts’ expectations of $646.68 million.

Analysts Set New Price Targets

CINT has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on CI&T in a report on Friday, December 6th. They issued a “buy” rating and a $9.00 price objective on the stock. Wedbush set a $9.00 price target on shares of CI&T in a research note on Monday, February 3rd. Canaccord Genuity Group raised their price objective on shares of CI&T from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, UBS Group boosted their price objective on shares of CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.37.

Institutional Investors Weigh In On CI&T

Several large investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in shares of CI&T in the fourth quarter valued at approximately $111,000. Cubist Systematic Strategies LLC grew its stake in shares of CI&T by 82.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company’s stock valued at $114,000 after purchasing an additional 8,459 shares during the last quarter. BW Gestao de Investimentos Ltda. grew its stake in shares of CI&T by 20.8% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company’s stock valued at $16,387,000 after purchasing an additional 464,529 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of CI&T in the 4th quarter valued at approximately $68,000. Finally, Marshall Wace LLP grew its stake in shares of CI&T by 134.4% in the 4th quarter. Marshall Wace LLP now owns 88,142 shares of the company’s stock valued at $535,000 after purchasing an additional 50,543 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

CI&T Stock Down 4.9 %

The firm has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $6.77. The company has a market capitalization of $842.36 million, a PE ratio of 48.21 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39.

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.