Thoughtworks (NASDAQ:TWKS) Price Target Raised to $3.25 at Citigroup

Thoughtworks (NASDAQ:TWKS) had its price objective boosted by equities research analysts at Citigroup from $2.50 to $3.25 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 5.86% from the company’s previous close.

Several other brokerages also recently issued reports on TWKS. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Royal Bank of Canada decreased their price target 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. Robert W. Baird raised their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler decreased their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of Thoughtworks in a report on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.94.

Thoughtworks Stock Up 1.7 %

Thoughtworks stock traded up $0.05 during mid-day trading on Wednesday, reaching $3.07. The company’s stock had a trading volume of 1,121,186 shares, compared to its average volume of 808,844. The business’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $3.67. Thoughtworks has a 12 month low of $2.19 and a 12 month 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 company has a market capitalization of $991.09 million, a price-to-earnings ratio of -13.95 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last issued its 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 firm had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. As a group, research analysts anticipate that Thoughtworks will post -0.04 earnings per share for the current year.

Institutional Trading of Thoughtworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Catalina Capital Group LLC purchased a new stake in shares of Thoughtworks during the 1st quarter worth approximately $26,000. Duality Advisers LP bought a new position in Thoughtworks during the first quarter worth about $36,000. Victory Capital Management Inc. bought a new stake in shares of Thoughtworks in the third quarter valued at approximately $41,000. Jump Financial LLC bought a new position in Thoughtworks in the 3rd quarter worth approximately $45,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Thoughtworks in the 3rd quarter valued at approximately $49,000. 32.81% of the stock is owned by institutional investors.

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.