Thoughtworks (NASDAQ:TWKS) Trading Up 6.4%

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price was up 6.4% during trading on Friday . The company traded as high as $2.99 and last traded at $2.99. Approximately 359,034 shares changed hands during trading, a decline of 53% from the average daily volume of 756,093 shares. The stock had previously closed at $2.81.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TWKS shares. Robert W. Baird raised their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Piper Sandler lowered their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Thoughtworks in a research report on Wednesday, May 8th. Citigroup raised their price objective on shares of Thoughtworks from $2.50 to $3.25 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada lowered their price target on shares of 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.94.

Thoughtworks Stock Performance

The stock’s 50 day simple moving average is $2.72 and its two-hundred day simple moving average is $3.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market cap of $959.04 million, a P/E ratio of -10.17 and a beta of 1.07.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $248.59 million during the quarter, compared to the consensus estimate of $242.77 million. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. As a group, research analysts forecast that Thoughtworks Holding, Inc. will post -0.02 EPS for the current year.

Institutional Trading of Thoughtworks

A number of institutional investors have recently made changes to their positions in TWKS. Catalina Capital Group LLC acquired a new position in Thoughtworks during the first quarter worth $26,000. Duality Advisers LP acquired a new position in shares of Thoughtworks in the first quarter valued at $36,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Thoughtworks in the third quarter valued at $49,000. MQS Management LLC acquired a new position in shares of Thoughtworks in the third quarter valued at $64,000. Finally, Pitcairn Co. acquired a new position in shares of Thoughtworks in the first quarter valued at $102,000. 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.