Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.52

Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.52, but opened at $3.20. Thoughtworks shares last traded at $3.07, with a volume of 2,275,980 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler lowered their price target on Thoughtworks from $5.00 to $3.40 and set a "neutral" rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada decreased their price objective 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. Citigroup dropped their target price on shares of Thoughtworks from $2.75 to $2.50 and set a "neutral" rating on the stock in a report on Monday, April 22nd. Finally, William Blair reiterated a "market perform" rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.58.

Thoughtworks Stock Up 19.8 %

The company has a 50-day moving average of $2.48 and a two-hundred day moving average of $3.68. The company has a market capitalization of $974.95 million, a PE ratio of -13.73 and a beta of 0.97. 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 issued its quarterly 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 business had revenue of $252.39 million during the quarter, compared to analysts' expectations of $268.34 million. Sell-side analysts anticipate that Thoughtworks Holding, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently modified their holdings of TWKS. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Thoughtworks by 31.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company's stock valued at $80,000 after purchasing an additional 4,681 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Thoughtworks by 70.3% in the 4th quarter. SG Americas Securities LLC now owns 23,498 shares of the company's stock worth $113,000 after buying an additional 9,698 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Thoughtworks during the 3rd quarter worth approximately $41,000. Catalina Capital Group LLC purchased a new stake in Thoughtworks in the first quarter valued at about $26,000. Finally, Jump Financial LLC purchased a new stake in shares of Thoughtworks during the third quarter worth about $45,000. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

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.