Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives Average Rating of “Hold” from Brokerages

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have earned an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.58.

Several equities research analysts have weighed in on TWKS shares. William Blair restated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Robert W. Baird raised shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Tuesday, January 2nd. Royal Bank of Canada cut their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Piper Sandler lowered their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, Citigroup lowered their target price on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a report on Monday.

Thoughtworks Trading Up 4.7 %

Shares of TWKS stock opened at $2.43 on Tuesday. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $8.41. The stock has a market cap of $784.47 million, a price-to-earnings ratio of -11.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a fifty day moving average of $2.88 and a 200-day moving average of $3.79.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. On average, equities research analysts forecast that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in Thoughtworks during the third quarter worth about $41,000. Jump Financial LLC bought a new position in Thoughtworks during the 3rd quarter worth approximately $45,000. Envestnet Portfolio Solutions Inc. bought a new position in Thoughtworks during the 3rd quarter worth approximately $49,000. SG Americas Securities LLC bought a new position in Thoughtworks during the 3rd quarter worth approximately $56,000. Finally, MQS Management LLC acquired a new stake in shares of Thoughtworks during the 3rd quarter worth approximately $64,000. 32.81% of the stock is owned by institutional investors.

Thoughtworks Company Profile

Thoughtworks Holding, Inc provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. The company's consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses.