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

Thoughtworks Holding, Inc. (NASDAQ:TWKS) has earned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.44.

TWKS has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of Thoughtworks in a research note on Wednesday, May 8th. The Goldman Sachs Group initiated coverage on shares of Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 price target for the company. Robert W. Baird reissued a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a research note on Tuesday. Citigroup lowered their price target on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Piper Sandler boosted their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research note on Tuesday.

Hedge Funds Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently modified their holdings of TWKS. Catalina Capital Group LLC bought a new position in shares of Thoughtworks during the first quarter valued at about $26,000. Duality Advisers LP bought a new position in shares of Thoughtworks during the first quarter valued at about $36,000. Simplicity Wealth LLC purchased a new position in shares of Thoughtworks during the second quarter valued at about $44,000. SG Americas Securities LLC purchased a new position in shares of Thoughtworks during the second quarter valued at about $71,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Thoughtworks by 49.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company’s stock valued at $84,000 after buying an additional 9,793 shares during the period. 32.81% of the stock is owned by institutional investors.

Thoughtworks Stock Performance

NASDAQ TWKS opened at $4.32 on Thursday. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $5.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87. The company has a market capitalization of $1.39 billion, a P/E ratio of -14.90 and a beta of 1.10. The company has a fifty day moving average of $2.96 and a 200-day moving average of $3.10.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. The company had revenue of $251.70 million for the quarter, compared to the consensus estimate of $251.37 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. As a group, equities research analysts predict that Thoughtworks will post -0.02 EPS 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.