Thoughtworks Holding, Inc. (NASDAQ:TWKS) Forecasted to Post Q1 2024 Earnings of ($0.04) Per Share

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Investment analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for shares of Thoughtworks in a report issued on Monday, April 15th. Wedbush analyst M. Katri expects that the company will post earnings of ($0.04) per share for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q2 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.07) EPS.

A number of other research analysts have also issued reports on TWKS. Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a research report on Tuesday, January 2nd. Royal Bank of Canada reduced their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Citigroup upped their price objective on Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Finally, Piper Sandler cut their price objective on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Thoughtworks currently has a consensus rating of “Hold” and an average target price of $5.08.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $2.26 on Thursday. 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 business has a 50 day simple moving average of $3.05 and a 200 day simple moving average of $3.85.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The firm had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TWKS. MetLife Investment Management LLC bought a new stake in shares of Thoughtworks during the first quarter valued at approximately $31,000. Great West Life Assurance Co. Can bought a new stake in shares of Thoughtworks during the second quarter valued at approximately $32,000. State of Wyoming increased its position in shares of Thoughtworks by 80.4% during the second quarter. State of Wyoming now owns 4,614 shares of the company’s stock valued at $35,000 after purchasing an additional 2,057 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Thoughtworks during the third quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Thoughtworks during the first quarter valued at approximately $44,000. 32.81% of the stock is owned by 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.