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

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares 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 traded.

Analyst Upgrades and Downgrades

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

Thoughtworks Stock Performance

The company has a market capitalization of $958.81 million, a PE ratio of -13.50 and a beta of 0.97. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $2.47 and its 200-day simple moving average is $3.66.

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

Institutional Investors Weigh In On Thoughtworks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Thoughtworks by 31.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company’s stock worth $80,000 after buying an additional 4,681 shares during the period. SG Americas Securities LLC raised its holdings in Thoughtworks by 70.3% in the fourth quarter. SG Americas Securities LLC now owns 23,498 shares of the company’s stock valued at $113,000 after buying an additional 9,698 shares during the period. Victory Capital Management Inc. purchased a new stake in Thoughtworks during the third quarter worth approximately $41,000. Catalina Capital Group LLC acquired a new stake in shares of Thoughtworks in the first quarter worth $26,000. Finally, Jump Financial LLC acquired a new position in shares of Thoughtworks during the 3rd quarter valued at $45,000. Hedge funds and other 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.