Thoughtworks (NASDAQ:TWKS) Issues Q2 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.01) to $0.01 for the period, compared to the consensus EPS estimate of $0.01. The company issued revenue guidance of $250 million to $255 million, compared to the consensus revenue estimate of $242.68 million. Thoughtworks also updated its FY24 guidance to $0.02 to $0.08 EPS.

Analyst Ratings Changes

A number of equities analysts recently commented on TWKS shares. 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. Robert W. Baird lifted their target price on Thoughtworks from $5.00 to $6.00 and gave the stock an outperform rating in a report on Wednesday. Citigroup raised their price target on Thoughtworks from $2.50 to $3.25 and gave the stock a neutral rating in a research note on Wednesday. Wedbush reiterated an outperform rating and set a $6.00 target price on shares of Thoughtworks in a research report on Wednesday. Finally, Piper Sandler reduced their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research note on Tuesday, February 27th. Six 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.com, the stock presently has an average rating of Hold and an average target price of $4.94.

Thoughtworks Trading Down 2.9 %

Shares of NASDAQ TWKS traded down $0.09 during mid-day trading on Thursday, hitting $2.98. The company’s stock had a trading volume of 437,570 shares, compared to its average volume of 806,471. The stock has a market cap of $962.03 million, a price-to-earnings ratio of -13.95 and a beta of 0.97. The company’s fifty day simple moving average is $2.47 and its 200-day simple moving average is $3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. Thoughtworks has a one year low of $2.19 and a one year high of $8.31.

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

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.