Thoughtworks (NASDAQ:TWKS) Releases FY 2024 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.020-0.080 for the period, compared to the consensus EPS estimate of 0.050. The company issued revenue guidance of $995.0 million-$1.0 billion, compared to the consensus revenue estimate of $988.5 million. Thoughtworks also updated its Q2 2024 guidance to -0.010-0.010 EPS.

Thoughtworks Trading Up 2.6 %

Shares of Thoughtworks stock traded up $0.08 during trading hours on Wednesday, hitting $3.10. The company’s stock had a trading volume of 359,271 shares, compared to its average volume of 801,964. The firm has a fifty day moving average of $2.48 and a 200-day moving average of $3.67. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.41. 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 stock has a market cap of $1.00 billion, a price-to-earnings ratio of -13.73 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) 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 analysts’ expectations of $268.34 million. Research analysts forecast that Thoughtworks will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TWKS shares. Citigroup reduced their price target on Thoughtworks from $2.75 to $2.50 and set a neutral rating on the stock in a research report on Monday, April 22nd. William Blair restated a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a research report on Wednesday, February 28th. Piper Sandler decreased their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research note on Tuesday, February 27th. Finally, Robert W. Baird boosted their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the stock an outperform rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $4.58.

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.