Brokerages Set Thoughtworks Holding, Inc. (NASDAQ:TWKS) PT at $4.58

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have received a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.58.

TWKS has been the subject of several analyst reports. Piper Sandler reduced their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Robert W. Baird raised shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price for the company in a research report on Tuesday, January 2nd. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada cut their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Finally, Citigroup cut their target price on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating for the company in a research report on Monday.

Thoughtworks Price Performance

Shares of TWKS opened at $2.33 on Tuesday. The company has a market capitalization of $752.19 million, a P/E ratio of -10.59 and a beta of 0.99. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $2.77 and a 200 day moving average of $3.76. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.41.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. As a group, equities research analysts anticipate that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 564,141 shares during the last quarter. Mubadala Investment Co PJSC purchased a new position in shares of Thoughtworks during the 4th quarter worth $37,411,000. Summit Creek Advisors LLC boosted its stake in shares of 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 acquiring an additional 244,693 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in shares of Thoughtworks during the 4th quarter worth $4,233,000. Finally, B. Riley Asset Management LLC boosted its stake in shares of 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 acquiring an additional 250,785 shares during the last quarter. Hedge funds and other institutional investors 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.