Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives $4.58 Consensus Price Target from Brokerages

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.58.

Several research firms have weighed in on TWKS. Piper Sandler decreased their target price on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada reduced 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 shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Tuesday, January 2nd. Citigroup reduced their price target on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a research note on Monday. Finally, William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th.

Institutional Investors Weigh In On Thoughtworks

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Thoughtworks by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after buying an additional 564,141 shares during the period. Mubadala Investment Co PJSC purchased a new stake in Thoughtworks during the 4th quarter worth approximately $37,411,000. Summit Creek Advisors LLC increased its stake in Thoughtworks by 22.6% during the 4th quarter. Summit Creek Advisors LLC now owns 1,326,644 shares of the company’s stock worth $6,381,000 after buying an additional 244,693 shares during the period. LGT Capital Partners LTD. purchased a new stake in Thoughtworks during the 4th quarter worth approximately $4,233,000. Finally, B. Riley Asset Management LLC increased its stake in Thoughtworks by 80.6% during the 3rd quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock worth $2,292,000 after buying an additional 250,785 shares during the period. 32.81% of the stock is owned by hedge funds and other institutional investors.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $2.33 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a market capitalization of $752.19 million, a price-to-earnings ratio of -10.59 and a beta of 0.99. The company’s 50-day moving average is $2.77 and its two-hundred day moving average is $3.76. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $252.39 million during the quarter, compared to analyst estimates of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. Analysts forecast that Thoughtworks will post -0.04 EPS for the current year.

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.