Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $3.39

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) gapped up before the market opened on Monday . The stock had previously closed at $3.39, but opened at $4.27. Thoughtworks shares last traded at $4.26, with a volume of 11,211,444 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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 dropped their target price on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group started coverage on Thoughtworks in a report on Monday, June 24th. They issued a “sell” rating and a $2.50 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of Thoughtworks in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.52.

Thoughtworks Stock Up 26.8 %

The stock’s 50 day simple moving average is $2.87 and its 200 day simple moving average is $3.09. The stock has a market capitalization of $1.39 billion, a P/E ratio of -11.69 and a beta of 1.10. 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 announced its quarterly earnings data 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). Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. The firm had revenue of $248.59 million for the quarter, compared to analyst estimates of $242.77 million. As a group, research analysts predict that Thoughtworks Holding, Inc. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Thoughtworks

Institutional investors and hedge funds have recently modified their holdings of the business. Catalina Capital Group LLC bought a new stake in shares of Thoughtworks during the 1st quarter valued at about $26,000. Duality Advisers LP bought a new stake in Thoughtworks in the first quarter valued at $36,000. Simplicity Wealth LLC acquired a new position in shares of Thoughtworks during the second quarter valued at $44,000. SG Americas Securities LLC bought a new position in shares of Thoughtworks during the second quarter worth about $71,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Thoughtworks by 49.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company’s stock worth $84,000 after acquiring an additional 9,793 shares during the last quarter. 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.