Thoughtworks (NASDAQ:TWKS) Given New $6.00 Price Target at Robert W. Baird

Thoughtworks (NASDAQ:TWKS) had its price target upped by Robert W. Baird from $5.00 to $6.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada cut their price objective on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a research report on Wednesday, February 28th. William Blair reaffirmed a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Piper Sandler decreased their price target on Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research report on Tuesday, February 27th. Finally, Citigroup reduced their price objective on shares of Thoughtworks from $2.75 to $2.50 and set a neutral rating for the company in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $4.94.

Thoughtworks Price Performance

NASDAQ:TWKS opened at $3.07 on Wednesday. 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 business’s 50-day moving average price is $2.47 and its 200 day moving average price is $3.67. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $8.41. The firm has a market cap of $991.09 million, a P/E ratio of -13.95 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The business had revenue of $252.39 million for the quarter, compared to the consensus estimate of $268.34 million. As a group, sell-side analysts predict that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Thoughtworks

Hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Thoughtworks by 52.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 40,246 shares of the company’s stock worth $102,000 after purchasing an additional 13,826 shares in the last quarter. Inspire Investing LLC acquired a new stake in Thoughtworks in the first quarter valued at approximately $360,000. Duality Advisers LP bought a new stake in Thoughtworks in the first quarter worth approximately $36,000. Catalina Capital Group LLC acquired a new position in shares of Thoughtworks during the 1st quarter worth $26,000. Finally, Mubadala Investment Co PJSC bought a new position in shares of Thoughtworks during the 4th quarter valued at $37,411,000. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

Thoughtworks Company Profile

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.