Thoughtworks Holding, Inc. (NASDAQ:TWKS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have earned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.94.

TWKS has been the subject of several recent research reports. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Piper Sandler cut their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Thoughtworks in a research note on Wednesday, May 8th. Robert W. Baird boosted their price target on Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, Citigroup boosted their price target on Thoughtworks from $2.50 to $3.25 and gave the company a “neutral” rating in a research note on Wednesday, May 8th.

Thoughtworks Stock Performance

TWKS opened at $2.97 on Friday. The stock’s 50 day simple moving average is $2.55 and its 200-day simple moving average is $3.64. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The stock has a market cap of $959.04 million, a PE ratio of -10.24 and a beta of 0.97. Thoughtworks has a 1 year low of $2.19 and a 1 year high of $8.31.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. Sell-side analysts forecast that Thoughtworks will post -0.04 EPS for the current year.

Institutional Trading of Thoughtworks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Catalina Capital Group LLC bought a new stake in Thoughtworks during the 1st quarter worth about $26,000. Duality Advisers LP bought a new stake in shares of Thoughtworks during the first quarter valued at approximately $36,000. Victory Capital Management Inc. acquired a new stake in shares of Thoughtworks in the third quarter valued at approximately $41,000. Jump Financial LLC bought a new position in Thoughtworks in the 3rd quarter worth approximately $45,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Thoughtworks during the 3rd quarter worth $49,000. 32.81% of the stock is currently 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.