Fintel reports that on August 16, 2024, Itau BBA upgraded their outlook for CI&T (NYSE:CINT) from Market Perform to Outperform.
Analyst Price Forecast Suggests 21.86% Downside
As of August 6, 2024, the average one-year price target for CI&T is $5.64/share. The forecasts range from a low of $4.04 to a high of $8.40. The average price target represents a decrease of 21.86% from its latest reported closing price of $7.22 / share.
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The projected annual revenue for CI&T is 3,642MM, an increase of 70.12%. The projected annual non-GAAP EPS is 3.14.
What is the Fund Sentiment?
There are 43 funds or institutions reporting positions in CI&T. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to CINT is 0.07%, an increase of 25.27%. Total shares owned by institutions increased in the last three months by 11.15% to 11,168K shares. 
The put/call ratio of CINT is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 3,282K shares representing 15.19% ownership of the company. In its prior filing, the firm reported owning 2,192K shares , representing an increase of 33.22%. The firm increased its portfolio allocation in CINT by 68.22% over the last quarter.
BW Gestao de Investimentos Ltda. holds 2,135K shares representing 9.88% ownership of the company. In its prior filing, the firm reported owning 1,061K shares , representing an increase of 50.28%. The firm increased its portfolio allocation in CINT by 378.25% over the last quarter.
Wcm Investment Management holds 1,415K shares representing 6.55% ownership of the company. In its prior filing, the firm reported owning 1,385K shares , representing an increase of 2.10%. The firm increased its portfolio allocation in CINT by 23.47% over the last quarter.
Bank Of Montreal holds 718K shares representing 3.33% ownership of the company. In its prior filing, the firm reported owning 752K shares , representing a decrease of 4.63%. The firm decreased its portfolio allocation in CINT by 64.44% over the last quarter.
Advent International holds 557K shares representing 2.58% ownership of the company. No change in the last quarter.
CI&T Background Information
(This description is provided by the company.)
CI&T is a global digital specialist, a partner in end-to-end digital transformation for 50+ Large Enterprises & Fast Growth Clients. As digital natives, CI&T brings a 26-year track record of accelerating business impact through complete and scalable digital solutions. With a global presence in 8 countries with a nearshore delivery model, CI&T is the Employer of Choice for 5,000 professionals in strategy, data science, design, and engineering, unlocking top-line growth, improving customer experience and driving operational efficiency.
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This story originally appeared on Fintel.
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