Thoughtworks (NASDAQ:TWKS) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Thoughtworks (NASDAQ:TWKS) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $6.00 price target on the stock.

TWKS has been the subject of a number of other research reports. Robert W. Baird raised their price target on Thoughtworks from $5.00 to $6.00 and gave the company an outperform rating in a research report on Wednesday. William Blair restated a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup reduced their price target 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. Piper Sandler dropped their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada cut their price objective on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a research report on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $4.94.

Thoughtworks Stock Up 1.7 %

TWKS stock opened at $3.07 on Wednesday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $2.47 and its 200 day moving average price is $3.67. Thoughtworks has a 52 week low of $2.19 and a 52 week high of $8.41. The company has a market cap of $991.09 million, a P/E ratio of -13.95 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The firm had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. On average, research analysts expect that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Thoughtworks

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Thoughtworks in the 3rd quarter valued at $41,000. Catalina Capital Group LLC purchased a new stake in shares of Thoughtworks in the first quarter valued at $26,000. Jump Financial LLC acquired a new position in Thoughtworks in the third quarter valued at $45,000. Envestnet Portfolio Solutions Inc. purchased a new position in Thoughtworks during the third quarter worth about $49,000. Finally, SG Americas Securities LLC acquired a new stake in Thoughtworks in the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 32.81% of the company’s stock.

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.