Brokerages Anticipate Thoughtworks Holding, Inc. (NASDAQ:TWKS) Will Announce Quarterly Sales of $328.51 Million

Wall Street analysts expect that Thoughtworks Holding, Inc. (NASDAQ:TWKSGet Rating) will announce $328.51 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Thoughtworks’ earnings, with estimates ranging from $328.10 million to $328.72 million. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Thoughtworks will report full year sales of $1.37 billion for the current fiscal year, with estimates ranging from $1.36 billion to $1.37 billion. For the next fiscal year, analysts expect that the business will report sales of $1.66 billion, with estimates ranging from $1.63 billion to $1.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Thoughtworks.

Thoughtworks (NASDAQ:TWKSGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.11). Thoughtworks had a negative return on equity of 22.60% and a negative net margin of 8.85%. The company had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $304.25 million. The business’s quarterly revenue was up 35.1% on a year-over-year basis.

Several research analysts recently commented on TWKS shares. Citigroup cut their price objective on shares of Thoughtworks from $30.00 to $24.00 in a report on Tuesday, May 10th. Credit Suisse Group cut their price target on shares of Thoughtworks from $31.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 2nd. Robert W. Baird cut their price target on shares of Thoughtworks from $30.00 to $25.00 in a report on Thursday, April 14th. Piper Sandler cut their price target on shares of Thoughtworks from $35.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Finally, Zacks Investment Research raised shares of Thoughtworks from a “sell” rating to a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Thoughtworks presently has a consensus rating of “Buy” and a consensus target price of $28.33.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Thoughtworks by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,276,105 shares of the company’s stock valued at $193,036,000 after buying an additional 952,009 shares during the period. BlackRock Inc. lifted its stake in shares of Thoughtworks by 59.9% in the first quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after buying an additional 1,769,406 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Thoughtworks by 3.1% in the first quarter. Vanguard Group Inc. now owns 2,772,285 shares of the company’s stock worth $57,692,000 after buying an additional 82,809 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Thoughtworks by 20.5% in the first quarter. Ensign Peak Advisors Inc now owns 2,173,598 shares of the company’s stock worth $45,233,000 after buying an additional 369,085 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new position in shares of Thoughtworks in the first quarter worth approximately $34,576,000. Institutional investors own 17.02% of the company’s stock.

TWKS traded up $0.82 on Friday, hitting $17.58. The company’s stock had a trading volume of 290,115 shares, compared to its average volume of 604,340. The company’s 50 day simple moving average is $18.84 and its 200-day simple moving average is $22.66. Thoughtworks has a 12 month low of $14.41 and a 12 month high of $34.43. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.67.

Thoughtworks Company Profile (Get Rating)

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.

Featured Stories

Get a free copy of the Zacks research report on Thoughtworks (TWKS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Thoughtworks (NASDAQ:TWKS)

Receive News & Ratings for Thoughtworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thoughtworks and related companies with MarketBeat.com's FREE daily email newsletter.