Thoughtworks (NASDAQ:TWKS) Shares Gap Down to $2.57

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.57, but opened at $2.50. Thoughtworks shares last traded at $2.53, with a volume of 29,056 shares changing hands.

Analyst Upgrades and Downgrades

TWKS has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on shares of Thoughtworks from $2.50 to $3.25 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. The Goldman Sachs Group initiated coverage on shares of Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 price target for the company. Wedbush reissued an “outperform” rating and set a $6.00 price target on shares of Thoughtworks in a report on Wednesday, May 8th. Finally, Robert W. Baird lifted their price objective on Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Thoughtworks currently has an average rating of “Hold” and an average price target of $4.59.

Thoughtworks Trading Down 1.2 %

The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $2.80 and a 200 day moving average of $3.36.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. The company had revenue of $248.59 million for the quarter, compared to the consensus estimate of $242.77 million. As a group, analysts forecast that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Thoughtworks

A number of institutional investors have recently bought and sold shares of the business. Mubadala Investment Co PJSC purchased a new stake in Thoughtworks during the 4th quarter valued at approximately $37,411,000. LGT Capital Partners LTD. bought a new stake in Thoughtworks in the 4th quarter valued at $4,233,000. Vanguard Group Inc. lifted its stake in Thoughtworks by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after purchasing an additional 564,141 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Thoughtworks by 1,094.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock valued at $1,228,000 after purchasing an additional 444,712 shares during the last quarter. Finally, Summit Creek Advisors LLC grew its position in shares of Thoughtworks by 22.6% during the fourth quarter. Summit Creek Advisors LLC now owns 1,326,644 shares of the company’s stock valued at $6,381,000 after purchasing an additional 244,693 shares in the last quarter. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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.