Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume

Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw strong trading volume on Tuesday . 2,699,318 shares changed hands during trading, an increase of 102% from the previous session’s volume of 1,338,035 shares.The stock last traded at $4.40 and had previously closed at $4.39.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TWKS. Citigroup cut their target price 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. Robert W. Baird reissued a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a research note on Tuesday, August 6th. The Goldman Sachs Group started coverage on shares of Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 target price for the company. Piper Sandler increased their price target on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Thoughtworks has a consensus rating of “Hold” and an average target price of $4.18.

Thoughtworks Stock Performance

The stock’s fifty day simple moving average is $3.75 and its two-hundred day simple moving average is $3.06. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -15.10 and a beta of 1.14. 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 (NASDAQ:TWKS) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. Thoughtworks’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm posted ($0.01) EPS. Equities research analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Thoughtworks by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after acquiring an additional 112,782 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Thoughtworks by 0.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,017,364 shares of the company’s stock valued at $28,449,000 after purchasing an additional 59,037 shares in the last quarter. Mubadala Investment Co PJSC purchased a new position in Thoughtworks in the fourth quarter valued at about $37,411,000. 272 Capital LP raised its position in Thoughtworks by 29.4% in the second quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock valued at $4,043,000 after purchasing an additional 323,751 shares during the period. Finally, Summit Creek Advisors LLC boosted its position in shares of Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after buying an additional 8,986 shares during the period. Hedge funds and other institutional investors 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.