Thoughtworks (NASDAQ:TWKS) Trading Down 4.2%

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares fell 4.2% on Friday . The stock traded as low as $2.27 and last traded at $2.28. 157,916 shares traded hands during trading, a decline of 79% from the average session volume of 745,142 shares. The stock had previously closed at $2.38.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TWKS. 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 note on Wednesday, February 28th. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup lowered their price target on Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Finally, Piper Sandler dropped their price objective on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.58.

Thoughtworks Trading Down 5.5 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The business’s 50 day simple moving average is $2.52 and its 200-day simple moving average is $3.69. The stock has a market capitalization of $726.37 million, a P/E ratio of -10.23 and a beta of 0.97.

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

Hedge Funds Weigh In On Thoughtworks

Several institutional investors and hedge funds have recently made changes to their positions in TWKS. Mubadala Investment Co PJSC acquired a new position in shares of Thoughtworks during the 4th quarter worth $37,411,000. LGT Capital Partners LTD. bought a new stake in Thoughtworks in the fourth quarter valued at approximately $4,233,000. Vanguard Group Inc. increased its position in shares of Thoughtworks by 5.4% during the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after buying an additional 564,141 shares during the period. Rathbones Group PLC bought a new position in shares of Thoughtworks in the 3rd quarter worth about $1,078,000. Finally, B. Riley Asset Management LLC lifted its stake 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 buying an additional 250,785 shares during the period. Institutional investors and hedge funds 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.