Thoughtworks Holding, Inc. (NASDAQ:TWKS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have received an average rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $4.58.

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

Thoughtworks Trading Down 1.3 %

NASDAQ:TWKS opened at $2.36 on Tuesday. Thoughtworks has a one year low of $2.19 and a one year high of $8.41. The company’s 50-day simple moving average is $2.69 and its 200 day simple moving average is $3.73. The firm has a market capitalization of $761.88 million, a P/E ratio of -10.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LGT Capital Partners LTD. bought a new stake in shares of Thoughtworks during the fourth quarter valued at approximately $4,233,000. Vanguard Group Inc. grew 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 valued at $45,125,000 after purchasing an additional 564,141 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Thoughtworks in the third quarter worth about $287,000. Rathbones Group PLC purchased a new stake in shares of Thoughtworks in the third quarter worth about $1,078,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Thoughtworks during the third quarter valued at approximately $49,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

Thoughtworks Company Profile

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.