Thoughtworks (NASDAQ:TWKS) Shares Up 12%

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s share price traded up 12% during mid-day trading on Monday . The company traded as high as $2.53 and last traded at $2.52. 763,774 shares were traded during trading, an increase of 2% from the average session volume of 749,200 shares. The stock had previously closed at $2.25.

Analyst Ratings Changes

Several analysts have recently commented on TWKS shares. Royal Bank of Canada reduced their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Citigroup lowered their price target on Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Finally, Piper Sandler reduced their price objective on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.58.

Thoughtworks Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69. The company has a 50-day moving average of $2.52 and a 200-day moving average of $3.68. The stock has a market capitalization of $813.52 million, a price-to-earnings ratio of -11.45 and a beta of 0.97.

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

Hedge Funds Weigh In On Thoughtworks

Several institutional investors have recently added to or reduced their stakes in TWKS. Catalina Capital Group LLC purchased a new stake in Thoughtworks in the 1st quarter valued at about $26,000. Duality Advisers LP acquired a new position in Thoughtworks during the first quarter worth approximately $36,000. Victory Capital Management Inc. purchased a new position in Thoughtworks during the third quarter worth approximately $41,000. Jump Financial LLC acquired a new position in shares of Thoughtworks in the 3rd quarter valued at $45,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Thoughtworks during the 3rd quarter valued at $49,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

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.