Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Free Report) were down 6% on Monday . The stock traded as low as $2.67 and last traded at $2.67. Approximately 260,074 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 784,725 shares. The stock had previously closed at $2.84.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on TWKS shares. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Thoughtworks in a research note on Wednesday, May 8th. Robert W. Baird boosted their target price on Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. The Goldman Sachs Group began coverage on Thoughtworks in a report on Monday, June 24th. They issued a “sell” rating and a $2.50 target price on the stock. Finally, Citigroup boosted their target price on Thoughtworks from $2.50 to $3.25 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.59.
Thoughtworks Stock Performance
The stock has a market capitalization of $855.71 million, a P/E ratio of -9.14 and a beta of 1.09. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average price of $2.78 and a 200-day moving average price of $3.40.
Thoughtworks (NASDAQ:TWKS – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $248.59 million for the quarter, compared to the consensus estimate of $242.77 million. Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. On average, sell-side analysts expect that Thoughtworks Holding, Inc. will post -0.02 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Catalina Capital Group LLC bought a new position in shares of Thoughtworks during the first quarter valued at $26,000. Envestnet Portfolio Solutions Inc. bought a new position in Thoughtworks in the third quarter valued at about $49,000. Duality Advisers LP bought a new position in Thoughtworks in the first quarter valued at about $36,000. SG Americas Securities LLC lifted its holdings in Thoughtworks by 70.3% in the fourth quarter. SG Americas Securities LLC now owns 23,498 shares of the company’s stock valued at $113,000 after acquiring an additional 9,698 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in Thoughtworks in the fourth quarter valued at about $117,000. 32.81% of the stock is owned by institutional investors.
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.