Thoughtworks (NASDAQ:TWKS) PT Raised to $3.25

Thoughtworks (NASDAQ:TWKS) had its price objective hoisted by equities research analysts at Citigroup from $2.50 to $3.25 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 9.43% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Piper Sandler cut 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. Royal Bank of Canada lowered their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Robert W. Baird lifted their price objective on Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of Thoughtworks in a research note on Wednesday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.94.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $2.97 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $958.81 million, a PE ratio of -13.50 and a beta of 0.97. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.31. The stock’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $3.66.

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

Institutional Trading of Thoughtworks

Several institutional investors and hedge funds have recently made changes to their positions in TWKS. Catalina Capital Group LLC purchased a new position in Thoughtworks during the first quarter worth about $26,000. Duality Advisers LP bought a new position in shares of Thoughtworks in the first quarter valued at approximately $36,000. Victory Capital Management Inc. purchased a new stake in shares of Thoughtworks during the third quarter valued at approximately $41,000. Jump Financial LLC bought a new stake in Thoughtworks during the third quarter worth $45,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Thoughtworks during the third quarter worth $49,000. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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.