Thoughtworks (NASDAQ:TWKS) Given New $2.50 Price Target at Citigroup

Thoughtworks (NASDAQ:TWKS) had its target price lowered by Citigroup from $2.75 to $2.50 in a report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

TWKS has been the subject of a number of other reports. Royal Bank of Canada cut their target price on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a research note on Wednesday, February 28th. Robert W. Baird raised Thoughtworks from a neutral rating to an outperform rating and set a $6.00 target price for the company in a research note on Tuesday, January 2nd. William Blair reaffirmed a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Finally, Piper Sandler cut their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research note 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $4.58.

Thoughtworks Stock Up 4.7 %

NASDAQ TWKS opened at $2.43 on Monday. The business has a fifty day moving average price of $2.88 and a 200 day moving average price of $3.79. Thoughtworks has a one year low of $2.19 and a one year 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 cap of $784.47 million, a P/E ratio of -11.05 and a beta of 0.99.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) EPS 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 analyst estimates of $268.34 million. Research analysts anticipate that Thoughtworks will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in Thoughtworks during the 3rd quarter valued at about $41,000. Jump Financial LLC acquired a new position in shares of Thoughtworks during the third quarter worth about $45,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Thoughtworks during the third quarter worth about $49,000. SG Americas Securities LLC acquired a new position in shares of Thoughtworks during the third quarter worth about $56,000. Finally, MQS Management LLC acquired a new position in shares of Thoughtworks during the third quarter worth about $64,000. 32.81% of the stock is currently owned by hedge funds and other 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.