Brokers Set Expectations for Thoughtworks Holding, Inc.’s Q3 2024 Earnings (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Analysts at Wedbush issued their Q3 2024 earnings per share (EPS) estimates for shares of Thoughtworks in a report released on Monday, April 15th. Wedbush analyst M. Katri anticipates that the company will post earnings per share of $0.00 for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q4 2024 earnings at $0.00 EPS and FY2025 earnings at $0.01 EPS.

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

Thoughtworks Price Performance

Shares of Thoughtworks stock opened at $2.29 on Wednesday. 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 firm has a market capitalization of $739.28 million, a PE ratio of -10.41 and a beta of 0.99. The business’s 50-day moving average price is $3.01 and its 200-day moving average price is $3.84. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $8.41.

Thoughtworks (NASDAQ:TWKS) last released 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 business had revenue of $252.39 million during the quarter, compared to analysts’ expectations of $268.34 million.

Hedge Funds Weigh In On Thoughtworks

Several institutional investors and hedge funds have recently bought and sold shares of TWKS. Bank of New York Mellon Corp grew its position in Thoughtworks by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 129,878 shares of the company’s stock worth $2,702,000 after acquiring an additional 8,165 shares during the last quarter. Citigroup Inc. lifted its holdings in Thoughtworks by 52.3% in the 1st quarter. Citigroup Inc. now owns 7,897 shares of the company’s stock worth $165,000 after buying an additional 2,713 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Thoughtworks by 12,615.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock worth $153,000 after buying an additional 7,317 shares during the period. MetLife Investment Management LLC purchased a new stake in Thoughtworks in the 1st quarter worth approximately $31,000. Finally, BlackRock Inc. lifted its holdings in Thoughtworks by 59.9% in the 1st quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after buying an additional 1,769,406 shares during the period. 32.81% of the stock is currently 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.