Thoughtworks (NASDAQ:TWKS) Sets New 52-Week Low at $2.23

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $2.23 and last traded at $2.23, with a volume of 299355 shares trading hands. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

TWKS has been the subject of a number of recent analyst reports. Piper Sandler cut their price target 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. William Blair restated a "market perform" rating on shares of Thoughtworks in a report on Wednesday, February 28th. 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. 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.08.

Thoughtworks Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The stock has a market cap of $729.37 million, a price-to-earnings ratio of -10.27 and a beta of 0.99. The company's fifty day moving average is $3.10 and its two-hundred day moving average is $3.86.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last issued 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 business had revenue of $252.39 million during the quarter, compared to analysts' expectations of $268.34 million. As a group, research analysts predict that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TWKS. Vanguard Group Inc. lifted its position in shares of Thoughtworks by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,333,636 shares of the company's stock worth $54,515,000 after purchasing an additional 273,708 shares during the last quarter. Mubadala Investment Co PJSC purchased a new stake in shares of Thoughtworks during the 4th quarter worth $37,411,000. Goldman Sachs Group Inc. lifted its position in shares of Thoughtworks by 23.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 709,937 shares of the company's stock worth $3,415,000 after purchasing an additional 135,833 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Thoughtworks during the 4th quarter worth $330,000. Finally, Barclays PLC lifted its position in shares of Thoughtworks by 336.2% during the 4th quarter. Barclays PLC now owns 145,886 shares of the company's stock worth $702,000 after purchasing an additional 112,441 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.