Thoughtworks (NASDAQ:TWKS) Releases FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.02 to $0.08 for the period, compared to the consensus EPS estimate of $0.05. The company issued revenue guidance of $995 million to $1.02 billion from $980 million to $1.01 billion, compared to the consensus revenue estimate of $987.87 million. Thoughtworks also updated its Q2 guidance to ($0.01) to $0.01 EPS.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TWKS. Robert W. Baird increased their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the company an outperform rating in a report on Wednesday. Piper Sandler lowered their target price on shares of Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research note on Tuesday, February 27th. Wedbush reiterated an outperform rating and issued a $6.00 target price on shares of Thoughtworks in a research report on Wednesday. Citigroup lowered their price target on shares of Thoughtworks from $2.75 to $2.50 and set a neutral rating on the stock in a research report on Monday, April 22nd. Finally, William Blair reissued a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Thoughtworks presently has an average rating of Hold and a consensus price target of $4.82.

Thoughtworks Trading Up 1.7 %

NASDAQ TWKS traded up $0.05 during trading hours on Wednesday, reaching $3.07. The company had a trading volume of 867,778 shares, compared to its average volume of 807,761. The stock has a 50-day moving average of $2.48 and a 200 day moving average of $3.67. 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 has a 1-year low of $2.19 and a 1-year high of $8.41. The stock has a market capitalization of $991.09 million, a P/E ratio of -14.14 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. The firm had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. As a group, research analysts anticipate that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

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.