Thoughtworks Holding, Inc. (NASDAQ:TWKS) Expected to Earn Q3 2024 Earnings of $0.00 Per Share

Thoughtworks Holding, Inc. (NASDAQ:TWKS - Free Report) - Stock analysts at Wedbush issued their Q3 2024 EPS estimates for shares of Thoughtworks in a research note issued to investors on Monday, April 15th. Wedbush analyst M. Katri forecasts that the company will post earnings per share of $0.00 for the quarter. The consensus estimate for Thoughtworks' current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks' Q4 2024 earnings at $0.00 EPS and FY2025 earnings at $0.01 EPS.

Other equities analysts also recently issued research reports about the stock. Piper Sandler dropped their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a "neutral" rating on the stock in a 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 price objective on the stock in a report on Tuesday, January 2nd. Royal Bank of Canada dropped their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 28th. Citigroup raised their price objective on shares of Thoughtworks from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, January 17th. Finally, William Blair reissued a "market perform" rating on shares of Thoughtworks in a report on Wednesday, February 28th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Thoughtworks has a consensus rating of "Hold" and a consensus target price of $5.08.

Thoughtworks Stock Performance

Shares of NASDAQ TWKS traded down $0.01 during trading on Wednesday, reaching $2.26. 590,686 shares of the company traded hands, compared to its average volume of 801,361. The firm has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $3.85. 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 stock has a market capitalization of $729.60 million, a PE ratio of -10.27 and a beta of 0.99. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $8.41.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $252.39 million for the quarter, compared to analysts' expectations of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%.

Institutional Investors Weigh In On Thoughtworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new stake in Thoughtworks during the 1st quarter worth approximately $31,000. Great West Life Assurance Co. Can bought a new stake in shares of Thoughtworks during the second quarter valued at approximately $32,000. State of Wyoming raised its position in shares of Thoughtworks by 80.4% during the second quarter. State of Wyoming now owns 4,614 shares of the company's stock valued at $35,000 after buying an additional 2,057 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Thoughtworks during the third quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Thoughtworks during the first quarter valued at approximately $44,000. 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.