Thoughtworks (NASDAQ:TWKS) Shares Down 2.8%

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s share price fell 2.8% during trading on Thursday . The company traded as low as $2.46 and last traded at $2.46. 405,641 shares traded hands during trading, a decline of 52% from the average session volume of 839,275 shares. The stock had previously closed at $2.53.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Piper Sandler decreased their target price on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Robert W. Baird raised shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada cut their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Thoughtworks currently has a consensus rating of “Hold” and an average price target of $5.08.

Thoughtworks Stock Performance

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 $3.71 and its two-hundred day simple moving average is $4.03.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share (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 the consensus estimate of $268.34 million. As a group, equities analysts predict that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Siemens AG bought a new position in Thoughtworks in the 4th quarter worth about $246,109,000. Mubadala Investment Co PJSC purchased a new stake in Thoughtworks during the fourth quarter valued at approximately $37,411,000. BlackRock Inc. lifted its position in Thoughtworks by 75.4% during the second quarter. BlackRock Inc. now owns 6,837,451 shares of the company’s stock valued at $51,623,000 after acquiring an additional 2,939,032 shares during the last quarter. Think Investments LP purchased a new stake in Thoughtworks during the second quarter valued at approximately $20,470,000. Finally, WCM Investment Management LLC raised its holdings in shares of Thoughtworks by 156.1% in the first quarter. WCM Investment Management LLC now owns 1,693,383 shares of the company’s stock worth $12,463,000 after buying an additional 1,032,267 shares during the last quarter. Hedge funds and other 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.