Thoughtworks (NASDAQ:TWKS) PT Lowered to $2.50 at Citigroup

Thoughtworks (NASDAQ:TWKS) had its target price reduced by Citigroup from $2.75 to $2.50 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. William Blair reaffirmed a market perform rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada lowered 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 report on Wednesday, February 28th. Robert W. Baird raised shares of Thoughtworks from a neutral rating to an outperform rating and set a $6.00 price objective for the company in a report on Tuesday, January 2nd. Finally, Piper Sandler cut their price target on shares of Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $4.58.

Thoughtworks Trading Down 1.2 %

Shares of Thoughtworks stock opened at $2.38 on Monday. The company has a fifty day simple moving average of $2.81 and a 200-day simple moving average of $3.77. Thoughtworks has a 12-month low of $2.19 and a 12-month high of $8.41. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The stock has a market cap of $768.34 million, a price-to-earnings ratio of -10.82 and a beta of 0.99.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data 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 firm had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. On average, equities analysts forecast that Thoughtworks will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TWKS. LGT Capital Partners LTD. bought a new stake in shares of Thoughtworks during the fourth quarter worth approximately $4,233,000. Vanguard Group Inc. boosted its holdings in shares of Thoughtworks by 5.4% in the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after buying an additional 564,141 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Thoughtworks in the third quarter valued at approximately $287,000. Rathbones Group PLC acquired a new position in Thoughtworks during the third quarter worth $1,078,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Thoughtworks during the third quarter worth $49,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

About Thoughtworks

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.