Thoughtworks (NASDAQ:TWKS) Issues Q2 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of ($0.01) to $0.01 for the period, compared to the consensus 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.

Thoughtworks Price Performance

TWKS traded up $0.51 during trading on Tuesday, reaching $3.03. The stock had a trading volume of 4,224,199 shares, compared to its average volume of 797,240. The business has a 50-day moving average of $2.48 and a 200-day moving average of $3.68. Thoughtworks has a one year low of $2.19 and a one year high of $8.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a market cap of $978.17 million, a PE ratio of -11.45 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. 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 for the quarter, compared to the consensus estimate of $268.34 million. As a group, equities research analysts anticipate that Thoughtworks will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TWKS. William Blair reaffirmed a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler dropped their price target on Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research note on Tuesday, February 27th. Citigroup decreased 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, Royal Bank of Canada cut their target price on shares of Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $4.58.

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.