Thoughtworks (NASDAQ:TWKS) Trading 10.4% Higher

Thoughtworks Holding, Inc. (NASDAQ:TWKS) rose 10.4% on Thursday . The company traded as high as $2.67 and last traded at $2.66. Approximately 181,703 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 775,643 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

A number of brokerages recently commented on TWKS. Robert W. Baird increased their price target on Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Citigroup raised their target price on Thoughtworks from $2.50 to $3.25 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group initiated coverage on shares of Thoughtworks in a report on Monday, June 24th. They issued a “sell” rating and a $2.50 price target on the stock. Finally, Wedbush restated an “outperform” rating and set a $6.00 price target on shares of Thoughtworks in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.59.

Thoughtworks Trading Up 10.0 %

The firm has a fifty day moving average of $2.81 and a two-hundred day moving average of $3.28. The company has a market cap of $855.71 million, a PE ratio of -9.14 and a beta of 1.09. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38.

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

Institutional Investors Weigh In On Thoughtworks

Institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC bought a new stake in shares of Thoughtworks during the 2nd quarter valued at $44,000. Jacobs Levy Equity Management Inc. grew its holdings in 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 buying an additional 444,712 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Thoughtworks during the first quarter valued at about $210,000. Pitcairn Co. purchased a new stake in shares of Thoughtworks in the first quarter worth about $102,000. Finally, Summit Creek Advisors LLC boosted its position in shares of Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock valued at $3,379,000 after acquiring an additional 8,986 shares during the period. Hedge funds and other institutional investors own 32.81% of the company’s stock.

About Thoughtworks

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.