Thoughtworks (NASDAQ:TWKS) PT Lowered to $2.50 at Citigroup

Thoughtworks (NASDAQ:TWKS) had its price target cut by investment analysts at Citigroup from $2.75 to $2.50 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 3.73% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Piper Sandler dropped their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Robert W. Baird raised Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target on the stock in a research report on Tuesday, January 2nd. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada dropped their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.58.

Thoughtworks Stock Down 0.8 %

TWKS stock opened at $2.41 on Monday. The stock’s fifty day simple moving average is $2.85 and its two-hundred day simple moving average is $3.78. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41. The stock has a market cap of $778.02 million, a P/E ratio of -10.95 and a beta of 0.99.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The business had revenue of $252.39 million during the quarter, compared to analysts’ expectations of $268.34 million. Analysts expect that Thoughtworks will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Thoughtworks

A number of institutional investors have recently added to or reduced their stakes in TWKS. Victory Capital Management Inc. bought a new position in Thoughtworks in the 3rd quarter worth about $41,000. Jump Financial LLC bought a new position in Thoughtworks in the 3rd quarter worth about $45,000. Envestnet Portfolio Solutions Inc. bought a new position in Thoughtworks in the 3rd quarter worth about $49,000. SG Americas Securities LLC bought a new position in Thoughtworks in the 3rd quarter worth about $56,000. Finally, MQS Management LLC bought a new position in Thoughtworks in the 3rd quarter worth about $64,000. 32.81% of the stock is currently 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.