Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives $4.94 Consensus Target Price from Brokerages

Thoughtworks Holding, Inc. (NASDAQ:TWKS) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.94.

A number of research analysts have commented on TWKS shares. Piper Sandler cut their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of Thoughtworks in a research note on Wednesday, May 8th. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Robert W. Baird lifted their price target on shares of Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada decreased their price objective 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.

Institutional Trading of Thoughtworks

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Thoughtworks by 31.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company’s stock valued at $80,000 after buying an additional 4,681 shares during the last quarter. Summit Creek Advisors LLC raised its holdings in Thoughtworks by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after purchasing an additional 8,986 shares during the last quarter. SG Americas Securities LLC lifted its position in Thoughtworks by 70.3% during the 4th quarter. SG Americas Securities LLC now owns 23,498 shares of the company’s stock valued at $113,000 after purchasing an additional 9,698 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Thoughtworks during the 3rd quarter worth approximately $41,000. Finally, Catalina Capital Group LLC bought a new stake in shares of Thoughtworks during the first quarter worth approximately $26,000. 32.81% of the stock is owned by institutional investors.

Thoughtworks Trading Down 2.3 %

Thoughtworks stock opened at $2.92 on Friday. The business has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $3.63. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $8.31.

Thoughtworks (NASDAQ:TWKS) last issued its 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 return on equity of 4.10% and a negative net margin of 8.56%. Equities research analysts predict that Thoughtworks will post -0.04 earnings per share for the current year.

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.