Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives Average Rating of “Hold” from Analysts

Thoughtworks Holding, Inc. (NASDAQ:TWKS) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.59.

TWKS has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Thoughtworks in a report on Wednesday, May 8th. Robert W. Baird boosted their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Citigroup lifted their price target on shares of Thoughtworks from $2.50 to $3.25 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group initiated coverage on Thoughtworks in a report on Monday, June 24th. They set a “sell” rating and a $2.50 price objective for the company.

Thoughtworks Price Performance

NASDAQ TWKS opened at $2.65 on Friday. The company has a market cap of $855.71 million, a PE ratio of -9.14 and a beta of 1.09. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $7.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87. The firm’s 50 day moving average price is $2.81 and its 200-day moving average price is $3.28.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $248.59 million for the quarter, compared to the consensus estimate of $242.77 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 -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC acquired a new position in shares of Thoughtworks in the fourth quarter valued at about $37,411,000. LGT Capital Partners LTD. purchased a new position in Thoughtworks during the 4th quarter worth approximately $4,233,000. Vanguard Group Inc. lifted its stake in Thoughtworks by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after acquiring an additional 564,141 shares during the period. Graham Capital Management L.P. acquired a new stake in Thoughtworks during the 3rd quarter valued at approximately $287,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Thoughtworks in the 4th quarter valued at $245,000. 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.