Thoughtworks (NASDAQ:TWKS) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Thoughtworks (NASDAQ:TWKS) in a report published on Wednesday, Benzinga reports. Wedbush currently has a $6.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Citigroup decreased 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. 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 note on Tuesday, February 27th. Robert W. Baird upped their price objective on Thoughtworks from $5.00 to $6.00 and gave the company an outperform rating in a research report on Wednesday. William Blair reiterated a market perform rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada lowered 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 note on Wednesday, February 28th. 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 data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $4.94.

Thoughtworks Trading Up 1.7 %

Shares of NASDAQ TWKS opened at $3.07 on Wednesday. The stock has a market capitalization of $991.09 million, a P/E ratio of -13.95 and a beta of 0.97. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41. The business’s 50 day moving average is $2.47 and its two-hundred day moving average is $3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results 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 company had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. As a group, research analysts expect that Thoughtworks will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Thoughtworks by 31.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company’s stock valued at $80,000 after purchasing an additional 4,681 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Thoughtworks by 70.3% in the 4th quarter. SG Americas Securities LLC now owns 23,498 shares of the company’s stock valued at $113,000 after acquiring an additional 9,698 shares during the period. Victory Capital Management Inc. bought a new position in shares of Thoughtworks in the 3rd quarter worth $41,000. Catalina Capital Group LLC purchased a new stake in shares of Thoughtworks during the 1st quarter worth $26,000. Finally, Jump Financial LLC bought a new stake in Thoughtworks during the third quarter valued at about $45,000. 32.81% of the stock is currently owned by 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.