Citigroup Boosts Thoughtworks (NASDAQ:TWKS) Price Target to $3.25

Thoughtworks (NASDAQ:TWKS) had its price objective lifted by Citigroup from $2.50 to $3.25 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 5.86% from the stock’s current price.

A number of other brokerages also recently weighed in on TWKS. Robert W. Baird boosted their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday. William Blair restated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada cut their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of Thoughtworks in a report on Wednesday. Finally, Piper Sandler lowered their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.94.

Thoughtworks Stock Up 1.7 %

Shares of NASDAQ:TWKS traded up $0.05 during trading on Wednesday, hitting $3.07. 1,121,186 shares of the company were exchanged, compared to its average volume of 808,844. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The firm’s 50 day moving average price is $2.48 and its 200-day moving average price is $3.67. The stock has a market capitalization of $991.09 million, a P/E ratio of -13.95 and a beta of 0.97. Thoughtworks has a 12-month low of $2.19 and a 12-month high of $8.41.

Thoughtworks (NASDAQ:TWKS) last released its quarterly 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, research analysts predict that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thoughtworks

Institutional investors and hedge funds have recently modified their holdings of the stock. Catalina Capital Group LLC acquired a new stake in Thoughtworks during the 1st quarter worth about $26,000. Duality Advisers LP acquired a new position in shares of Thoughtworks in the 1st quarter valued at about $36,000. Victory Capital Management Inc. purchased a new stake in shares of Thoughtworks in the third quarter worth approximately $41,000. Jump Financial LLC acquired a new stake in shares of Thoughtworks during the third quarter worth approximately $45,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Thoughtworks during the third quarter valued at approximately $49,000. 32.81% of the stock is owned by institutional investors and hedge funds.

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.