Thoughtworks (NASDAQ:TWKS) Releases FY 2022 Earnings Guidance

Posted by on Jun 6th, 2022

Thoughtworks (NASDAQ:TWKS – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.51-$0.53 for the period, compared to the consensus estimate of $0.52. The company issued revenue guidance of $1.36 billion-$1.38 billion, compared to the consensus revenue estimate of $1.32 billion.Thoughtworks also updated its Q2 2022 guidance to $0.11-$0.12 EPS.

TWKS opened at $18.02 on Monday. Thoughtworks has a 12-month low of $14.41 and a 12-month high of $34.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.58 and a quick ratio of 3.58. The business’s fifty day simple moving average is $18.52 and its 200-day simple moving average is $22.05.

Thoughtworks (NASDAQ:TWKS – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11). Thoughtworks had a negative return on equity of 22.60% and a negative net margin of 8.85%. The firm had revenue of $320.90 million for the quarter, compared to the consensus estimate of $304.25 million. Thoughtworks’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities analysts predict that Thoughtworks will post -0.22 earnings per share for the current fiscal year.

TWKS has been the topic of a number of recent research reports. Robert W. Baird dropped their price target on Thoughtworks from $30.00 to $25.00 in a research report on Thursday, April 14th. Zacks Investment Research downgraded Thoughtworks from a hold rating to a sell rating in a research report on Tuesday, May 31st. Credit Suisse Group dropped their price objective on Thoughtworks from $31.00 to $25.00 and set a neutral rating on the stock in a research report on Wednesday, March 2nd. Piper Sandler dropped their price objective on Thoughtworks from $35.00 to $28.00 and set an overweight rating on the stock in a research report on Wednesday, March 2nd. Finally, Citigroup dropped their price objective on Thoughtworks from $30.00 to $24.00 in a research report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Thoughtworks has an average rating of Buy and a consensus target price of $28.33.

A number of institutional investors have recently bought and sold shares of TWKS. BlackRock Inc. grew its holdings in Thoughtworks by 59.9% during the first quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after acquiring an additional 1,769,406 shares during the period. Ensign Peak Advisors Inc grew its holdings in Thoughtworks by 20.5% in the first quarter. Ensign Peak Advisors Inc now owns 2,173,598 shares of the company’s stock valued at $45,233,000 after purchasing an additional 369,085 shares during the period. Clearbridge Investments LLC grew its holdings in Thoughtworks by 84.8% in the first quarter. Clearbridge Investments LLC now owns 586,910 shares of the company’s stock valued at $12,214,000 after purchasing an additional 269,242 shares during the period. First Trust Advisors LP acquired a new stake in Thoughtworks in the first quarter valued at approximately $3,879,000. Finally, State Street Corp grew its holdings in Thoughtworks by 38.3% in the first quarter. State Street Corp now owns 598,544 shares of the company’s stock valued at $12,456,000 after purchasing an additional 165,797 shares during the period. 17.02% of the stock is currently owned by hedge funds and other institutional investors.

About Thoughtworks (Get Rating)

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.

See Also

Earnings History and Estimates for Thoughtworks (NASDAQ:TWKS)

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