Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives Consensus Recommendation of "Hold" from Analysts

Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) has been given an average rating of "Hold" by the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.58.

Several brokerages recently issued reports on TWKS. Piper Sandler cut their target price on shares of Thoughtworks from $5.00 to $3.40 and set a "neutral" rating for the company in a research report on Tuesday, February 27th. William Blair restated a "market perform" rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada cut their price target on shares of Thoughtworks from $6.00 to $5.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 28th. Robert W. Baird raised shares of Thoughtworks from a "neutral" rating to an "outperform" rating and set a $6.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Citigroup lowered 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TWKS. Victory Capital Management Inc. purchased a new stake in Thoughtworks during the 3rd quarter valued at $41,000. Jump Financial LLC purchased a new stake in Thoughtworks during the 3rd quarter valued at $45,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Thoughtworks during the 3rd quarter valued at $49,000. SG Americas Securities LLC purchased a new stake in Thoughtworks during the 3rd quarter valued at $56,000. Finally, MQS Management LLC purchased a new stake in Thoughtworks during the 3rd quarter valued at $64,000. Institutional investors own 32.81% of the company's stock.

Thoughtworks Price Performance

NASDAQ:TWKS traded down $0.02 during midday trading on Tuesday, hitting $2.41. The company had a trading volume of 321,477 shares, compared to its average volume of 783,413. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $8.41. The stock's fifty day moving average price is $2.88 and its 200-day moving average price is $3.79. The company has a market capitalization of $778.02 million, a PE ratio of -11.05 and a beta of 0.99. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37.

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

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.