Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.26

Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.26, but opened at $2.31. Thoughtworks shares last traded at $2.21, with a volume of 22,400 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TWKS shares. Robert W. Baird upgraded Thoughtworks from a "neutral" rating to an "outperform" rating and set a $6.00 price target for the company in a research note on Tuesday, January 2nd. Citigroup upped their price target on Thoughtworks from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 17th. William Blair reiterated a "market perform" rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada cut their price objective on Thoughtworks from $6.00 to $5.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler cut their price objective on Thoughtworks from $5.00 to $3.40 and set a "neutral" rating for the company in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.08.

Thoughtworks Trading Up 0.4 %

The firm has a market cap of $732.60 million, a PE ratio of -10.32 and a beta of 0.99. The business has a 50-day moving average price of $3.10 and a two-hundred day moving average price of $3.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The firm had revenue of $252.39 million during the quarter, compared to analysts' expectations of $268.34 million. Analysts forecast that Thoughtworks Holding, Inc. will post -0.03 EPS for the current year.

Institutional Trading of Thoughtworks

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Thoughtworks by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,333,636 shares of the company's stock valued at $54,515,000 after acquiring an additional 273,708 shares during the last quarter. Mubadala Investment Co PJSC acquired a new stake in shares of Thoughtworks during the fourth quarter valued at $37,411,000. Goldman Sachs Group Inc. boosted its stake in shares of Thoughtworks by 23.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 709,937 shares of the company's stock valued at $3,415,000 after acquiring an additional 135,833 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Thoughtworks during the fourth quarter valued at $330,000. Finally, Barclays PLC boosted its stake in shares of Thoughtworks by 336.2% during the fourth quarter. Barclays PLC now owns 145,886 shares of the company's stock valued at $702,000 after acquiring an additional 112,441 shares during the last quarter. Institutional investors and hedge funds own 32.81% of the company's stock.

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.