Thoughtworks (NASDAQ:TWKS) Releases FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.02 to $0.08 for the period, compared to the consensus earnings per share estimate of $0.05. The company issued revenue guidance of $995 million to $1.02 billion from $980 million to $1.01 billion, compared to the consensus revenue estimate of $987.87 million. Thoughtworks also updated its Q2 guidance to ($0.01) to $0.01 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush reiterated an outperform rating and set a $6.00 price objective on shares of Thoughtworks in a research note on Wednesday. Robert W. Baird increased their price objective on Thoughtworks from $5.00 to $6.00 and gave the company an outperform rating in a report on Wednesday. Royal Bank of Canada decreased their target price on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a report on Wednesday, February 28th. Citigroup increased their price target on shares of Thoughtworks from $2.50 to $3.25 and gave the stock a neutral rating in a report on Wednesday. Finally, Piper Sandler decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $4.94.

Thoughtworks Stock Performance

TWKS opened at $2.97 on Friday. The stock has a market cap of $958.81 million, a P/E ratio of -13.50 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a fifty day moving average price of $2.47 and a 200 day moving average price of $3.66. Thoughtworks has a 1 year low of $2.19 and a 1 year high of $8.31.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (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. Equities research analysts anticipate that Thoughtworks will post -0.04 earnings per share for the current year.

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.