Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives $5.08 Average Price Target from Brokerages

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.08.

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their target price 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. Citigroup upped 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. Royal Bank of Canada reduced 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. William Blair reaffirmed a "market perform" rating on shares of Thoughtworks in a report on Wednesday, February 28th. Finally, Robert W. Baird raised shares of Thoughtworks from a "neutral" rating to an "outperform" rating and set a $6.00 price target for the company in a report on Tuesday, January 2nd.

Thoughtworks Stock Performance

NASDAQ TWKS remained flat at $2.53 during trading hours on Friday. 1,513,671 shares of the company's stock traded hands, compared to its average volume of 1,144,059. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. Thoughtworks has a one year low of $2.26 and a one year high of $8.41. The stock has a market cap of $816.51 million, a P/E ratio of -11.50 and a beta of 1.03. The firm has a fifty day moving average of $3.64 and a 200 day moving average of $4.01.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $268.34 million. Sell-side analysts expect that Thoughtworks will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TWKS. MetLife Investment Management LLC acquired a new position in Thoughtworks during the first quarter worth about $31,000. Great West Life Assurance Co. Can acquired a new stake in shares of Thoughtworks in the second quarter valued at approximately $32,000. State of Wyoming grew its position in shares of Thoughtworks by 80.4% in the second quarter. State of Wyoming now owns 4,614 shares of the company's stock valued at $35,000 after purchasing an additional 2,057 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Thoughtworks in the third quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Thoughtworks in the first quarter valued at approximately $44,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

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.