Brokers Issue Forecasts for Thoughtworks Holding, Inc.’s Q1 2024 Earnings (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Research analysts at Wedbush issued their Q1 2024 earnings estimates for shares of Thoughtworks in a report issued on Monday, April 15th. Wedbush analyst M. Katri anticipates that the company will post earnings per share of ($0.04) 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.

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

Thoughtworks Stock Up 1.3 %

Shares of NASDAQ TWKS opened at $2.29 on Thursday. Thoughtworks has a 1 year low of $2.19 and a 1 year high of $8.41. 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 company has a 50 day simple moving average of $3.01 and a 200-day simple moving average of $3.84. The company has a market capitalization of $739.28 million, a P/E ratio of -10.41 and a beta of 0.99.

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

Hedge Funds Weigh In On Thoughtworks

Several institutional investors have recently modified their holdings of TWKS. Siemens AG acquired a new position in shares of Thoughtworks in the fourth quarter worth $246,109,000. Mubadala Investment Co PJSC acquired a new position in shares of Thoughtworks in the fourth quarter worth $37,411,000. BlackRock Inc. grew its stake in shares of Thoughtworks by 75.4% in the second quarter. BlackRock Inc. now owns 6,837,451 shares of the company’s stock worth $51,623,000 after acquiring an additional 2,939,032 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Thoughtworks by 156.1% during the 1st quarter. WCM Investment Management LLC now owns 1,693,383 shares of the company’s stock worth $12,463,000 after purchasing an additional 1,032,267 shares during the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in shares of Thoughtworks during the 4th quarter worth $4,233,000. Institutional investors and hedge funds own 32.81% of the company’s stock.

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.