Robert W. Baird Increases Thoughtworks (NASDAQ:TWKS) Price Target to $6.00

Thoughtworks (NASDAQ:TWKS) had its price target boosted by equities researchers at Robert W. Baird from $5.00 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 98.68% from the company’s current price.

Several other analysts also recently commented on the company. Piper Sandler cut their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Citigroup dropped 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. Finally, Royal Bank of Canada lowered their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.58.

Thoughtworks Trading Up 19.8 %

Thoughtworks stock opened at $3.02 on Wednesday. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $8.41. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $3.67. The company has a market capitalization of $974.95 million, a price-to-earnings ratio of -13.73 and a beta of 0.97.

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

Institutional Trading of Thoughtworks

Several hedge funds have recently bought and sold shares of TWKS. Mubadala Investment Co PJSC purchased a new position in shares of Thoughtworks during the 4th quarter valued at about $37,411,000. LGT Capital Partners LTD. purchased a new stake in shares of Thoughtworks in the fourth quarter worth $4,233,000. Vanguard Group Inc. raised its position in shares of Thoughtworks by 5.4% during the 3rd 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 during the period. Rathbones Group PLC purchased a new position in shares of Thoughtworks during the 3rd quarter valued at $1,078,000. Finally, B. Riley Asset Management LLC boosted its holdings in Thoughtworks by 80.6% in the 3rd quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock worth $2,292,000 after buying an additional 250,785 shares during the period. Institutional investors own 32.81% of the company’s stock.

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.