Thoughtworks (NASDAQ:TWKS) Sets New 12-Month Low at $2.23

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) hit a new 52-week low on Monday . The stock traded as low as $2.23 and last traded at $2.23, with a volume of 299355 shares traded. The stock had previously closed at $2.39.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TWKS. Royal Bank of Canada reduced their target price on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Robert W. Baird raised Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target on the stock in a research report on Tuesday, January 2nd. Piper Sandler reduced their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Finally, Citigroup raised their target price on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Six equities research analysts have rated the stock with 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 $5.08.

Thoughtworks Stock Down 0.4 %

The firm has a fifty day moving average of $3.10 and a 200-day moving average of $3.86. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The firm had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. As a group, research analysts predict that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current year.

Institutional Trading of Thoughtworks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Thoughtworks by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 129,878 shares of the company’s stock valued at $2,702,000 after buying an additional 8,165 shares during the period. Citigroup Inc. grew its stake in shares of Thoughtworks by 52.3% during the 1st quarter. Citigroup Inc. now owns 7,897 shares of the company’s stock valued at $165,000 after buying an additional 2,713 shares during the period. PNC Financial Services Group Inc. boosted its position in Thoughtworks by 12,615.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock worth $153,000 after purchasing an additional 7,317 shares during the period. MetLife Investment Management LLC purchased a new stake in Thoughtworks during the 1st quarter worth $31,000. Finally, BlackRock Inc. boosted its position in Thoughtworks by 59.9% during the 1st quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after purchasing an additional 1,769,406 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.