Thoughtworks (NASDAQ:TWKS) Stock Price Up 4.7%

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price traded up 4.7% during mid-day trading on Tuesday . The stock traded as high as $2.47 and last traded at $2.46. 138,572 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 848,392 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TWKS. Piper Sandler lowered their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research report on Tuesday, January 2nd. William Blair reissued a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Royal Bank of Canada reduced their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, Citigroup raised their price target on shares of Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Price Performance

The stock’s 50-day moving average price is $3.68 and its 200-day moving average price is $4.02. The company has a market capitalization of $816.51 million, a price-to-earnings ratio of -11.50 and a beta of 1.03. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37.

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

Institutional Investors Weigh In On Thoughtworks

Several large investors have recently made changes to their positions in TWKS. MetLife Investment Management LLC acquired a new position in Thoughtworks during the first quarter worth $31,000. Charles Schwab Investment Management Inc. boosted its holdings in Thoughtworks by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 525,299 shares of the company’s stock worth $3,866,000 after purchasing an additional 1,864 shares during the last quarter. M&T Bank Corp boosted its holdings in Thoughtworks by 12.8% during the third quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock worth $188,000 after purchasing an additional 2,021 shares during the last quarter. State of Wyoming boosted its holdings in Thoughtworks by 80.4% during the second quarter. State of Wyoming now owns 4,614 shares of the company’s stock worth $35,000 after purchasing an additional 2,057 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Thoughtworks during the first quarter worth $44,000. Institutional investors own 32.81% of the company’s stock.

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.