Brokers Set Expectations for Thoughtworks Holding, Inc.’s Q3 2024 Earnings (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Equities researchers at Wedbush issued their Q3 2024 EPS estimates for Thoughtworks in a note issued to investors on Monday, April 15th. Wedbush analyst M. Katri forecasts 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.

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 net margin of 6.09% and a negative return on equity of 2.46%. The firm had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million.

TWKS has been the topic of a number of other research reports. Citigroup lifted their price target on shares of 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 lowered their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. William Blair restated a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler lowered their price objective 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. Finally, Robert W. Baird upgraded shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Tuesday, January 2nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.08.

Thoughtworks Trading Up 1.3 %

NASDAQ:TWKS opened at $2.29 on Wednesday. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $8.41. The firm has a market cap of $739.28 million, a price-to-earnings ratio of -10.41 and a beta of 0.99. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $3.01 and its 200-day moving average is $3.84.

Institutional Investors Weigh In On Thoughtworks

Institutional investors have recently bought and sold shares of the business. LGT Capital Partners LTD. acquired a new stake in Thoughtworks during the fourth quarter worth $4,233,000. Vanguard Group Inc. boosted its stake in shares of Thoughtworks by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after purchasing an additional 564,141 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Thoughtworks in the 3rd quarter worth about $287,000. Rathbones Group PLC bought a new stake in shares of Thoughtworks in the 3rd quarter worth about $1,078,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Thoughtworks in the 3rd quarter worth about $49,000. Institutional investors and hedge funds 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.