Brokers Issue Forecasts for Thoughtworks Holding, Inc.’s Q1 2024 Earnings (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Equities research analysts at Wedbush issued their Q1 2024 earnings per share estimates for shares of Thoughtworks in a report released on Monday, April 15th. Wedbush analyst M. Katri anticipates that the company will post earnings per share of ($0.04) for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q2 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.07) EPS.

Thoughtworks (NASDAQ:TWKS) last announced its 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 company had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million.

A number of other equities research analysts have also recently commented on the company. William Blair reissued a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup raised their price objective on Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Royal Bank of Canada cut 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 cut their price objective on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective for the company in a research report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.08.

Thoughtworks Price Performance

Shares of Thoughtworks stock opened at $2.29 on Thursday. 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’s fifty day moving average is $3.01 and its 200 day moving average is $3.84. The stock has a market cap of $739.28 million, a P/E ratio of -10.41 and a beta of 0.99. Thoughtworks has a one year low of $2.19 and a one year high of $8.41.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MetLife Investment Management LLC purchased a new position in shares of Thoughtworks during the first quarter valued at approximately $31,000. Advisors Asset Management Inc. purchased a new stake in shares of Thoughtworks in the first quarter valued at approximately $44,000. Great West Life Assurance Co. Can purchased a new stake in shares of Thoughtworks in the second quarter valued at approximately $32,000. State of Wyoming boosted its holdings in shares of Thoughtworks by 80.4% in the second quarter. State of Wyoming now owns 4,614 shares of the company’s stock valued at $35,000 after purchasing an additional 2,057 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Thoughtworks by 12,615.5% in the first quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock valued at $153,000 after purchasing an additional 7,317 shares during the period. Hedge funds and other 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.