Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives $4.58 Average Target Price from Analysts

Thoughtworks Holding, Inc. (NASDAQ:TWKS) has been assigned a consensus rating of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.58.

TWKS has been the topic of several recent analyst reports. Citigroup decreased their target price on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada cut their target price on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Robert W. Baird raised Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Tuesday, January 2nd. William Blair restated a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Finally, Piper Sandler lowered their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th.

Thoughtworks Stock Performance

TWKS stock opened at $2.39 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.41. The business’s fifty day moving average is $2.73 and its 200-day moving average is $3.74. The company has a market cap of $771.56 million, a P/E ratio of -10.86 and a beta of 0.99.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The business had revenue of $252.39 million during the quarter, compared to analyst estimates of $268.34 million. Equities research analysts forecast that Thoughtworks will post -0.04 EPS for the current year.

Institutional Trading of Thoughtworks

Institutional investors have recently made changes to their positions in the stock. Mubadala Investment Co PJSC purchased a new position in shares of Thoughtworks during the fourth quarter valued at approximately $37,411,000. LGT Capital Partners LTD. purchased a new position in shares of Thoughtworks in the 4th quarter worth $4,233,000. Vanguard Group Inc. grew its holdings in shares of Thoughtworks by 5.4% in the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after acquiring an additional 564,141 shares during the period. Rathbones Group PLC purchased a new stake in Thoughtworks during the third quarter valued at $1,078,000. Finally, B. Riley Asset Management LLC lifted its holdings in Thoughtworks by 80.6% in the third quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock valued at $2,292,000 after acquiring an additional 250,785 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.