Thoughtworks (NASDAQ:TWKS) Posts Earnings Results, Beats Estimates By $0.01 EPS

Thoughtworks (NASDAQ:TWKS – Get Rating) announced its earnings results on Monday. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01, MarketWatch Earnings reports. The business had revenue of $320.90 million for the quarter, compared to analyst estimates of $304.25 million. The business’s quarterly revenue was up 35.1% compared to the same quarter last year.

NASDAQ TWKS opened at $16.51 on Tuesday. Thoughtworks has a one year low of $16.36 and a one year high of $34.43. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.76 and a current ratio of 3.76. The stock’s 50 day simple moving average is $19.94 and its 200 day simple moving average is $23.94.

A hedge fund recently bought a new stake in Thoughtworks stock. Public Employees Retirement System of Ohio purchased a new stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,895 shares of the company’s stock, valued at approximately $614,000. 17.02% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on TWKS shares. Piper Sandler reduced their target price on Thoughtworks from $35.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Credit Suisse Group reduced their target price on Thoughtworks from $31.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 2nd. Royal Bank of Canada cut their price objective on Thoughtworks from $36.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. Zacks Investment Research downgraded shares of Thoughtworks from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Finally, Citigroup decreased their price target on Thoughtworks from $30.00 to $24.00 in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Thoughtworks has a consensus rating of “Buy” and an average price target of $28.83.

Thoughtworks Company Profile (Get Rating)

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.

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