Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives Average Recommendation of “Hold” from Analysts

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have been given an average rating of “Hold” by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $4.18.

A number of research analysts have recently weighed in on the company. Piper Sandler increased their price target on Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group started coverage on Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 target price on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. Finally, Baird R W cut shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th.

Thoughtworks Price Performance

Shares of TWKS stock opened at $4.40 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -15.17 and a beta of 1.14. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $5.20. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $4.12 and a 200 day moving average price of $3.16.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The business had revenue of $251.70 million for the quarter, compared to analyst estimates of $251.37 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts expect that Thoughtworks will post -0.02 EPS for the current year.

Institutional Trading of Thoughtworks

Several hedge funds have recently bought and sold shares of the stock. Mubadala Investment Co PJSC acquired a new position in shares of Thoughtworks in the fourth quarter valued at approximately $37,411,000. Jacobs Levy Equity Management Inc. boosted its stake in Thoughtworks by 1,094.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock worth $1,228,000 after purchasing an additional 444,712 shares during the period. Vanguard Group Inc. increased its holdings in Thoughtworks by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after purchasing an additional 112,782 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Thoughtworks by 1,585.5% in the 2nd quarter. Victory Capital Management Inc. now owns 194,529 shares of the company’s stock valued at $552,000 after purchasing an additional 182,988 shares during the period. Finally, Duality Advisers LP bought a new stake in shares of Thoughtworks in the first quarter valued at about $36,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

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.