Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.52

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.52, but opened at $3.20. Thoughtworks shares last traded at $3.07, with a volume of 2,275,980 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $6.00 price target on shares of Thoughtworks in a report on Wednesday. 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 note on Wednesday, February 28th. Robert W. Baird increased their price target on shares of Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup upped their target price on 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 Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a report 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, the company has a consensus rating of “Hold” and an average price target of $4.94.

Thoughtworks Trading Down 3.3 %

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 has a fifty day moving average of $2.47 and a 200 day moving average of $3.66. The company has a market capitalization of $958.81 million, a P/E ratio of -13.50 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $252.39 million for the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. As a group, equities research analysts anticipate that Thoughtworks Holding, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Thoughtworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mubadala Investment Co PJSC bought a new position in shares of Thoughtworks during the 4th quarter valued at approximately $37,411,000. LGT Capital Partners LTD. purchased a new stake in Thoughtworks during the fourth quarter valued at approximately $4,233,000. Vanguard Group Inc. grew its holdings in Thoughtworks by 5.4% in the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after purchasing an additional 564,141 shares during the last quarter. Rathbones Group PLC purchased a new stake in shares of Thoughtworks during the 3rd quarter valued at $1,078,000. Finally, B. Riley Asset Management LLC grew its stake in Thoughtworks by 80.6% during the 3rd quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock worth $2,292,000 after buying an additional 250,785 shares during the last quarter. 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.