Thoughtworks (NASDAQ:TWKS) Downgraded to Hold at Baird R W

Baird R W lowered shares of Thoughtworks (NASDAQ:TWKS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

TWKS has been the subject of several other reports. Piper Sandler raised their price objective on Thoughtworks from $3.40 to $4.40 and gave the company a neutral rating in a research note on Tuesday. JPMorgan Chase & Co. reiterated a neutral rating on shares of Thoughtworks in a report on Tuesday. Robert W. Baird reiterated a neutral rating and set a $4.40 target price on shares of Thoughtworks in a report on Tuesday. Citigroup lowered their target price on Thoughtworks from $3.25 to $2.75 and set a neutral rating on the stock in a report on Friday, July 12th. Finally, The Goldman Sachs Group initiated coverage on Thoughtworks in a report on Monday, June 24th. They set a sell rating and a $2.50 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $4.44.

Thoughtworks Stock Up 0.2 %

Shares of NASDAQ:TWKS traded up $0.01 on Tuesday, hitting $4.34. 2,422,851 shares of the company’s stock were exchanged, compared to its average volume of 1,137,930. The company has a market capitalization of $1.40 billion, a PE ratio of -14.97 and a beta of 1.10. 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 1-year low of $2.19 and a 1-year high of $5.20. The firm’s 50-day moving average is $2.99 and its 200 day moving average is $3.11.

Thoughtworks (NASDAQ:TWKS) last announced its 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 during the quarter, compared to analyst estimates 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 for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. Sell-side analysts predict that Thoughtworks will post -0.02 EPS for the current year.

Institutional Trading of Thoughtworks

A number of hedge funds and other institutional investors have recently modified their holdings of TWKS. Catalina Capital Group LLC acquired a new position in Thoughtworks in the first quarter worth about $26,000. Duality Advisers LP acquired a new position in Thoughtworks in the first quarter valued at approximately $36,000. Simplicity Wealth LLC acquired a new position in Thoughtworks in the second quarter valued at approximately $44,000. SG Americas Securities LLC acquired a new position in Thoughtworks in the second quarter valued at approximately $71,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Thoughtworks by 49.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company’s stock valued at $84,000 after acquiring an additional 9,793 shares during the period. 32.81% of the stock is owned by hedge funds and other institutional investors.

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.