Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 3,610,351 shares traded hands during trading, an increase of 126% from the previous session’s volume of 1,599,106 shares.The stock last traded at $4.44 and had previously closed at $4.42.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on TWKS. Citigroup dropped their price target on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Baird R W lowered shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Robert W. Baird restated a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a research report on Tuesday, August 6th. Piper Sandler lifted their price objective on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Thoughtworks presently has a consensus rating of “Hold” and an average price target of $4.18.
View Our Latest Stock Report on TWKS
Thoughtworks Trading Up 1.1 %
Thoughtworks (NASDAQ:TWKS – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The business had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $251.37 million. During the same period last year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts expect that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.
Hedge Funds Weigh In On Thoughtworks
Several hedge funds have recently added to or reduced their stakes in TWKS. Catalina Capital Group LLC purchased a new stake in shares of Thoughtworks during the 1st quarter worth approximately $26,000. Algert Global LLC purchased a new stake in Thoughtworks in the second quarter valued at $33,000. Duality Advisers LP acquired a new position in Thoughtworks in the first quarter valued at $36,000. Simplicity Wealth LLC purchased a new position in shares of Thoughtworks during the second quarter worth about $44,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Thoughtworks during the second quarter worth about $71,000. 32.81% of the stock is currently 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.
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