Thoughtworks (NASDAQ:TWKS) Updates FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.02 to $0.08 for the period, compared to the consensus estimate of $0.05. The company issued revenue guidance of $995 million to $1.02 billion from $980 million to $1.01 billion, compared to the consensus revenue estimate of $987.87 million. Thoughtworks also updated its Q2 guidance to ($0.01) to $0.01 EPS.

Thoughtworks Stock Performance

Shares of TWKS opened at $2.97 on Friday. The business’s fifty day simple moving average is $2.47 and its two-hundred day simple moving average is $3.66. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $8.31. The company has a market cap of $958.81 million, a price-to-earnings ratio of -13.50 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

TWKS has been the topic of several recent analyst reports. Piper Sandler cut their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research note on Tuesday, February 27th. Wedbush restated an outperform rating and issued a $6.00 price target on shares of Thoughtworks 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. Royal Bank of Canada dropped their price target on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Finally, Robert W. Baird raised their price target on Thoughtworks from $5.00 to $6.00 and gave the stock an outperform rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Thoughtworks has an average rating of Hold and an average price target of $4.94.

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.