Brokerages Set Thoughtworks Holding, Inc. (NASDAQ:TWKS) Target Price at $4.18

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $4.18.

TWKS has been the subject of a number of recent analyst reports. Baird R W downgraded shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group began coverage on Thoughtworks in a report on Monday, June 24th. They set a “sell” rating and a $2.50 price target on the stock. Robert W. Baird reissued a “neutral” rating and issued a $4.40 price objective on shares of Thoughtworks in a research report on Tuesday, August 6th. Piper Sandler raised their target price on Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TWKS. Catalina Capital Group LLC purchased a new stake in Thoughtworks during the first quarter valued at about $26,000. Algert Global LLC purchased a new stake in shares of Thoughtworks during the 2nd quarter valued at approximately $33,000. Duality Advisers LP bought a new position in Thoughtworks in the 1st quarter worth approximately $36,000. Simplicity Wealth LLC purchased a new position in Thoughtworks in the 2nd quarter valued at approximately $44,000. Finally, SG Americas Securities LLC bought a new stake in Thoughtworks during the 2nd quarter valued at $71,000. Institutional investors own 32.81% of the company’s stock.

Thoughtworks Price Performance

Shares of NASDAQ TWKS opened at $4.42 on Tuesday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -12.28 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.59 and a current ratio of 2.59. Thoughtworks has a fifty-two week low of $2.19 and a fifty-two week high of $5.20. The firm’s 50-day simple moving average is $4.38 and its 200 day simple moving average is $3.37.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The company had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $251.37 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Thoughtworks will post -0.02 earnings per share for the current fiscal year.

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.