Thoughtworks (NASDAQ:TWKS) Updates FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.02 to $0.08 for the period, compared to the consensus earnings per share estimate of $0.05. The company issued revenue guidance of $995 million to $1.02 billion from $980 million to $1.01 billion, compared to the consensus revenue estimate of $987.87 million. Thoughtworks also updated its Q2 guidance to ($0.01) to $0.01 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada cut their price target on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a research note on Wednesday, February 28th. Piper Sandler cut their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Citigroup cut their target price on Thoughtworks from $2.75 to $2.50 and set a neutral rating on the stock in a research report on Monday, April 22nd. Finally, William Blair reaffirmed a market perform rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $4.58.

Thoughtworks Trading Up 19.8 %

NASDAQ TWKS traded up $0.50 during mid-day trading on Tuesday, reaching $3.02. 5,073,663 shares of the stock were exchanged, compared to its average volume of 807,114. The stock has a market capitalization of $974.95 million, a PE ratio of -13.73 and a beta of 0.97. The business's fifty day simple moving average is $2.48 and its 200 day simple moving average is $3.67. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69.

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

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.