Thoughtworks Holding, Inc. (NASDAQ:TWKS) to Post Q3 2024 Earnings of $0.00 Per Share, Wedbush Forecasts

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Wedbush issued their Q3 2024 earnings estimates for shares of Thoughtworks in a note issued to investors on Monday, April 15th. Wedbush analyst M. Katri anticipates that the company will post earnings per share of $0.00 for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q4 2024 earnings at $0.00 EPS and FY2025 earnings at $0.01 EPS.

Several other analysts also recently commented on the stock. Robert W. Baird upgraded shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price on the stock in a report on Tuesday, January 2nd. Royal Bank of Canada decreased their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler decreased their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Citigroup raised their target price on shares of Thoughtworks from $4.50 to $5.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Stock Down 0.4 %

TWKS stock traded down $0.01 during mid-day trading on Wednesday, hitting $2.26. 590,586 shares of the company were exchanged, compared to its average volume of 801,359. 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 firm has a market cap of $729.60 million, a P/E ratio of -10.27 and a beta of 0.99. The firm’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $3.85. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The company had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%.

Institutional Trading of Thoughtworks

Several hedge funds and other institutional investors have recently modified their holdings of TWKS. Siemens AG acquired a new stake in Thoughtworks in the 4th quarter worth about $246,109,000. Mubadala Investment Co PJSC acquired a new stake in Thoughtworks in the 4th quarter worth about $37,411,000. BlackRock Inc. raised its stake in Thoughtworks by 75.4% in the 2nd quarter. BlackRock Inc. now owns 6,837,451 shares of the company’s stock worth $51,623,000 after purchasing an additional 2,939,032 shares in the last quarter. WCM Investment Management LLC raised its stake in Thoughtworks by 156.1% in the 1st quarter. WCM Investment Management LLC now owns 1,693,383 shares of the company’s stock worth $12,463,000 after purchasing an additional 1,032,267 shares in the last quarter. Finally, LGT Capital Partners LTD. acquired a new stake in Thoughtworks in the 4th quarter worth about $4,233,000. 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.