Thoughtworks (NASDAQ:TWKS) Posts Quarterly Earnings Results

Thoughtworks (NASDAQ:TWKS) released its quarterly earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, Briefing.com reports. 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 analyst estimates of $251.37 million. During the same period in the previous year, the business posted ($0.01) EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year.

Thoughtworks Price Performance

Thoughtworks stock traded up $0.02 during mid-day trading on Wednesday, hitting $4.34. The company’s stock had a trading volume of 1,020,519 shares, compared to its average volume of 1,121,550. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $5.45. The stock’s fifty day moving average price is $2.93 and its two-hundred day moving average price is $3.09. The stock has a market capitalization of $1.40 billion, a P/E ratio of -14.90 and a beta of 1.10. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TWKS shares. Citigroup cut their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Robert W. Baird restated a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a research note on Tuesday. Piper Sandler boosted their target price on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group started coverage on shares of Thoughtworks in a research report on Monday, June 24th. They issued a “sell” rating and a $2.50 price target on the stock. Finally, Baird R W downgraded shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.44.

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.