Thoughtworks (NASDAQ:TWKS) PT Raised to $6.00 at Robert W. Baird

Thoughtworks (NASDAQ:TWKS) had its price target increased by Robert W. Baird from $5.00 to $6.00 in a research note released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the company. William Blair reissued a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Piper Sandler reduced their price target on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada cut their target price on shares of Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a research report on Wednesday, February 28th. Finally, Citigroup decreased their price target on shares of Thoughtworks from $2.75 to $2.50 and set a neutral rating for the company in a research report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $4.94.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $3.07 on Wednesday. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.41. 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 stock’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $3.67. The firm has a market capitalization of $991.09 million, a PE ratio of -13.95 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $252.39 million for the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. On average, analysts anticipate that Thoughtworks will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Thoughtworks

Institutional investors and hedge funds have recently made changes to their positions in the business. Catalina Capital Group LLC bought a new position in shares of Thoughtworks during the 1st quarter worth approximately $26,000. Duality Advisers LP bought a new position in shares of Thoughtworks during the 1st quarter worth about $36,000. Victory Capital Management Inc. bought a new stake in Thoughtworks in the 3rd quarter valued at about $41,000. Jump Financial LLC acquired a new position in Thoughtworks during the 3rd quarter worth approximately $45,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Thoughtworks in the third quarter worth approximately $49,000. Institutional investors own 32.81% of the company’s stock.

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.