Thoughtworks (NASDAQ:TWKS) Price Target Lowered to $2.50 at Citigroup

Thoughtworks (NASDAQ:TWKS) had its price target reduced by Citigroup from $2.75 to $2.50 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also commented on the company. Royal Bank of Canada reduced their price target on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a report on Wednesday, February 28th. William Blair restated a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Robert W. Baird upgraded shares of Thoughtworks from a neutral rating to an outperform rating and set a $6.00 price objective on the stock in a report on Tuesday, January 2nd. Finally, Piper Sandler reduced their price objective 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $4.58.

Thoughtworks Stock Down 2.1 %

NASDAQ TWKS opened at $2.33 on Monday. Thoughtworks has a 52 week low of $2.19 and a 52 week high of $8.41. 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 business’s fifty day simple moving average is $2.77 and its 200-day simple moving average is $3.76. The firm has a market cap of $752.19 million, a PE ratio of -10.59 and a beta of 0.99.

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

Hedge Funds Weigh In On Thoughtworks

Institutional investors have recently bought and sold shares of the company. LGT Capital Partners LTD. acquired a new position in Thoughtworks in the 4th quarter valued at about $4,233,000. Vanguard Group Inc. grew its position in Thoughtworks by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after acquiring an additional 564,141 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Thoughtworks in the 3rd quarter valued at about $287,000. Rathbones Group PLC acquired a new position in Thoughtworks in the 3rd quarter valued at about $1,078,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Thoughtworks in the 3rd quarter valued at about $49,000. 32.81% of the stock is 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.