Thoughtworks (NASDAQ:TWKS) Sets New 12-Month Low at $2.23

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.23 and last traded at $2.23, with a volume of 299355 shares trading hands. The stock had previously closed at $2.39.

Analyst Ratings Changes

Several equities research analysts have issued reports on TWKS shares. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Citigroup lifted their target price on shares of Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Royal Bank of Canada decreased their target price 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. 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 note on Tuesday, January 2nd. Finally, Piper Sandler dropped 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Trading Down 0.4 %

The stock’s 50 day moving average is $3.10 and its 200-day moving average is $3.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $252.39 million for the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. As a group, analysts expect that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently bought and sold shares of TWKS. Siemens AG purchased a new stake in Thoughtworks in the 4th quarter worth approximately $246,109,000. Mubadala Investment Co PJSC purchased a new stake in Thoughtworks in the 4th quarter worth approximately $37,411,000. BlackRock Inc. increased its holdings in Thoughtworks by 75.4% in the 2nd quarter. BlackRock Inc. now owns 6,837,451 shares of the company’s stock worth $51,623,000 after acquiring an additional 2,939,032 shares in the last quarter. WCM Investment Management LLC increased its holdings in Thoughtworks by 156.1% in the 1st quarter. WCM Investment Management LLC now owns 1,693,383 shares of the company’s stock worth $12,463,000 after acquiring an additional 1,032,267 shares in the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in Thoughtworks in the 4th quarter worth approximately $4,233,000. 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.