Thoughtworks (NASDAQ:TWKS) Shares Up 12%

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s share price was up 12% during mid-day trading on Monday . The stock traded as high as $2.53 and last traded at $2.52. Approximately 763,774 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 749,200 shares. The stock had previously closed at $2.25.

Analyst Upgrades and Downgrades

TWKS has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of 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 price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Citigroup lifted their price target on Thoughtworks from $2.50 to $3.25 and gave the company a “neutral” rating in a research note on Wednesday. William Blair restated a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Thoughtworks in a report on Wednesday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thoughtworks currently has a consensus rating of “Hold” and an average price target of $4.94.

Thoughtworks Price Performance

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 market capitalization of $991.09 million, a PE ratio of -13.95 and a beta of 0.97. The business’s 50-day moving average price is $2.47 and its 200 day moving average price is $3.67.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $252.39 million during the quarter, compared to analysts’ expectations of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. Research analysts forecast that Thoughtworks Holding, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Catalina Capital Group LLC bought a new position in shares of Thoughtworks during the first quarter valued at approximately $26,000. Duality Advisers LP bought a new position in Thoughtworks in the 1st quarter worth about $36,000. Victory Capital Management Inc. purchased a new stake in shares of Thoughtworks during the third quarter valued at approximately $41,000. Jump Financial LLC purchased a new stake in Thoughtworks during the 3rd quarter valued at $45,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Thoughtworks in the 3rd quarter worth $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.