Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.26

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.26, but opened at $2.31. Thoughtworks shares last traded at $2.21, with a volume of 22,400 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TWKS shares. Robert W. Baird raised shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Tuesday, January 2nd. Citigroup raised their target price on shares of Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler dropped their price objective 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. Finally, Royal Bank of Canada dropped their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.08.

Thoughtworks Stock 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’s 50 day moving average price is $3.10 and its 200-day moving average price is $3.86.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. The firm 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, equities analysts predict that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Thoughtworks

Institutional investors and hedge funds have recently made changes to their positions in the stock. LGT Capital Partners LTD. acquired a new stake in shares of Thoughtworks during the fourth quarter worth $4,233,000. Vanguard Group Inc. raised its holdings in shares of Thoughtworks by 5.4% during the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after purchasing an additional 564,141 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Thoughtworks during the third quarter worth $287,000. Rathbones Group PLC purchased a new position in shares of Thoughtworks during the third quarter worth $1,078,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Thoughtworks during the third quarter worth $49,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

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.