Citigroup Lowers Thoughtworks (NASDAQ:TWKS) Price Target to $2.50

Thoughtworks (NASDAQ:TWKS) had its price target lowered by equities research analysts at Citigroup from $2.75 to $2.50 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 3.73% from the company’s current price.

TWKS has been the subject of a number of other reports. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a report 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 objective on the stock in a research report on Tuesday, January 2nd. Piper Sandler reduced their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada reduced their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.58.

Thoughtworks Trading Down 0.8 %

Shares of TWKS opened at $2.41 on Monday. The firm has a market cap of $778.02 million, a price-to-earnings ratio of -10.95 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69. Thoughtworks has a fifty-two week low of $2.19 and a fifty-two week high of $8.41. The firm has a 50 day moving average price of $2.85 and a 200-day moving average price of $3.78.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $268.34 million. As a group, equities research analysts forecast that Thoughtworks will post -0.04 earnings per share for the current year.

Institutional Trading of Thoughtworks

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