Thoughtworks (NASDAQ:TWKS) Releases Q2 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.01) to $0.01 for the period, compared to the consensus EPS estimate of $0.01. The company issued revenue guidance of $250 million to $255 million, compared to the consensus revenue estimate of $242.68 million. Thoughtworks also updated its FY24 guidance to $0.02 to $0.08 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in 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. Wedbush restated an outperform rating and issued a $6.00 price objective on shares of Thoughtworks in a research report on Wednesday. William Blair restated a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup cut their price objective on Thoughtworks from $2.75 to $2.50 and set a neutral rating on the stock in a report on Monday, April 22nd. Finally, Robert W. Baird lifted their price target on Thoughtworks from $5.00 to $6.00 and gave the company an outperform rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Thoughtworks currently has a consensus rating of Hold and a consensus target price of $4.82.

Thoughtworks Price Performance

Shares of TWKS stock traded up $0.05 during trading hours on Wednesday, reaching $3.07. The company’s stock had a trading volume of 867,778 shares, compared to its average volume of 807,761. The firm’s 50 day simple moving average is $2.48 and its 200-day simple moving average is $3.67. The company has a market capitalization of $991.09 million, a price-to-earnings ratio of -14.14 and a beta of 0.97. Thoughtworks has a fifty-two week low of $2.19 and a fifty-two week high of $8.41. 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 (NASDAQ:TWKS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. Sell-side analysts forecast that Thoughtworks will post -0.04 earnings per share for the current year.

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.