Thoughtworks’ (TWKS) Neutral Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their neutral rating on shares of Thoughtworks (NASDAQ:TWKS) in a report issued on Tuesday, Benzinga reports. The firm currently has a $4.40 price objective on the stock.

Several other analysts also recently commented on TWKS. Citigroup dropped their price objective on shares of Thoughtworks from $3.25 to $2.75 and set a neutral rating on the stock in a report on Friday, July 12th. Wedbush reaffirmed an outperform rating and issued a $6.00 price objective on shares of Thoughtworks in a report on Wednesday, May 8th. The Goldman Sachs Group assumed coverage on shares of Thoughtworks in a report on Monday, June 24th. They set a sell rating and a $2.50 price target on the stock. Finally, JPMorgan Chase & Co. reissued a neutral rating on shares of Thoughtworks in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $4.44.

Thoughtworks Trading Up 0.2 %

Shares of Thoughtworks stock opened at $4.33 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87. Thoughtworks has a 12-month low of $2.19 and a 12-month high of $5.45. The firm’s 50 day simple moving average is $2.96 and its two-hundred day simple moving average is $3.10.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.03) EPS for the quarter. The business had revenue of $251.70 million during 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 5.74%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. As a group, analysts expect that Thoughtworks will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mubadala Investment Co PJSC purchased a new position in Thoughtworks during the fourth quarter valued at $37,411,000. Vanguard Group Inc. lifted its holdings in Thoughtworks by 5.4% during the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after purchasing an additional 564,141 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Thoughtworks by 1,094.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock valued at $1,228,000 after purchasing an additional 444,712 shares in the last quarter. Duality Advisers LP purchased a new position in Thoughtworks during the first quarter valued at $36,000. Finally, Quadrature Capital Ltd purchased a new position in Thoughtworks during the first quarter valued at $210,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

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.