Thoughtworks (NASDAQ:TWKS – Get Free Report) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of ($0.01) to $0.01 for the period, compared to the consensus estimate of $0.01. The company issued revenue guidance of $250 million to $255 million, compared to the consensus revenue estimate of $242.68 million. Thoughtworks also updated its FY24 guidance to $0.02 to $0.08 EPS.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their target price on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a research report on Wednesday, February 28th. Robert W. Baird lifted their target price on Thoughtworks from $5.00 to $6.00 and gave the stock an outperform rating in a research report on Wednesday. Wedbush reissued an outperform rating and set a $6.00 target price on shares of Thoughtworks in a research report on Wednesday. Piper Sandler decreased their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Finally, William Blair reissued a market perform rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $4.94.
Get Our Latest Research Report on Thoughtworks
Thoughtworks Stock Down 3.3 %
Thoughtworks (NASDAQ:TWKS – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The business had revenue of $252.39 million for the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. Equities analysts predict that Thoughtworks will post -0.04 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.
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