Thoughtworks (NASDAQ:TWKS) PT Lowered to $11.00 at Citigroup

Thoughtworks (NASDAQ:TWKSGet Rating) had its price target decreased by Citigroup from $19.00 to $11.00 in a research report released on Monday, The Fly reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Thoughtworks from $20.00 to $16.00 and set an overweight rating on the stock in a report on Friday, October 14th. Robert W. Baird lowered their price target on shares of Thoughtworks from $18.00 to $14.00 in a report on Tuesday, October 11th. Credit Suisse Group lowered their price target on shares of Thoughtworks from $16.00 to $13.00 and set a neutral rating on the stock in a report on Tuesday, November 15th. Piper Sandler downgraded shares of Thoughtworks from an overweight rating to a neutral rating and lowered their price target for the company from $14.00 to $9.50 in a report on Monday, November 14th. Finally, Cowen lowered their price target on shares of Thoughtworks from $16.00 to $12.00 in a report on Tuesday, November 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $14.83.

Thoughtworks Stock Performance

TWKS opened at $7.91 on Monday. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -15.21 and a beta of 0.98. The company’s 50 day moving average is $9.64 and its 200 day moving average is $13.17. Thoughtworks has a 12-month low of $7.61 and a 12-month high of $30.99.

Thoughtworks (NASDAQ:TWKSGet Rating) last posted its quarterly earnings data on Monday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The business had revenue of $332.40 million during the quarter, compared to analysts’ expectations of $327.52 million. Thoughtworks had a negative return on equity of 15.64% and a negative net margin of 12.29%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. On average, equities research analysts predict that Thoughtworks will post -0.17 EPS for the current year.

Insider Activity

In other news, insider Angela Ferguson sold 20,000 shares of Thoughtworks stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $10.84, for a total transaction of $216,800.00. Following the sale, the insider now owns 142,755 shares in the company, valued at $1,547,464.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Christopher Gerard Murphy sold 14,479 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $11.82, for a total value of $171,141.78. Following the sale, the chief executive officer now owns 383,519 shares in the company, valued at $4,533,194.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela Ferguson sold 20,000 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $10.84, for a total transaction of $216,800.00. Following the completion of the sale, the insider now owns 142,755 shares in the company, valued at approximately $1,547,464.20. The disclosure for this sale can be found here. Insiders have sold a total of 69,860 shares of company stock worth $748,963 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Thoughtworks

Several large investors have recently bought and sold shares of the business. M&T Bank Corp increased its position in Thoughtworks by 12.8% in the third quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock worth $188,000 after purchasing an additional 2,021 shares during the last quarter. State Street Corp increased its position in Thoughtworks by 22.1% during the third quarter. State Street Corp now owns 1,063,669 shares of the company’s stock valued at $11,158,000 after acquiring an additional 192,288 shares during the last quarter. Vanguard Group Inc. increased its position in Thoughtworks by 7.2% during the third quarter. Vanguard Group Inc. now owns 6,612,949 shares of the company’s stock valued at $69,371,000 after acquiring an additional 441,884 shares during the last quarter. Marshall Wace LLP bought a new position in Thoughtworks during the third quarter valued at $995,000. Finally, Ensign Peak Advisors Inc increased its position in Thoughtworks by 0.3% during the third quarter. Ensign Peak Advisors Inc now owns 2,186,264 shares of the company’s stock valued at $22,933,000 after acquiring an additional 6,936 shares during the last quarter. Institutional investors own 18.71% of the company’s stock.

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.

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