Thoughtworks (NASDAQ:TWKS) Issues Q2 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.01) to $0.01 for the period, compared to the consensus estimate of $0.01. The company issued revenue guidance of $250 million to $255 million, compared to the consensus revenue estimate of $242.68 million. Thoughtworks also updated its FY24 guidance to $0.02 to $0.08 EPS.

Analysts Set New Price Targets

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

Thoughtworks Price Performance

Thoughtworks stock traded up $0.51 during mid-day trading on Tuesday, hitting $3.03. 4,224,199 shares of the company were exchanged, compared to its average volume of 797,240. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. Thoughtworks has a 12-month low of $2.19 and a 12-month high of $8.41. The business’s 50 day simple moving average is $2.48 and its two-hundred day simple moving average is $3.68. The company has a market capitalization of $978.17 million, a P/E 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 (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. Analysts forecast that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

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.