Thoughtworks (NASDAQ:TWKS) Trading Up 5.2%

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) shot up 5.2% during trading on Tuesday . The stock traded as high as $2.45 and last traded at $2.44. 339,290 shares were traded during mid-day trading, a decline of 59% from the average session volume of 824,061 shares. The stock had previously closed at $2.32.

Analysts Set New Price Targets

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

Thoughtworks Trading Up 6.9 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a market capitalization of $800.37 million, a PE ratio of -11.27 and a beta of 0.99. The company's fifty day simple moving average is $3.28 and its 200-day simple moving average is $3.91.

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

Hedge Funds Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TWKS. MetLife Investment Management LLC acquired a new stake in shares of Thoughtworks in the first quarter valued at about $31,000. Great West Life Assurance Co. Can acquired a new stake in shares of Thoughtworks in the second quarter valued at about $32,000. State of Wyoming raised 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 buying 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 about $41,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Thoughtworks in the first quarter valued at about $44,000. 32.81% of the stock is 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.