Thoughtworks (NASDAQ:TWKS) Stock Price Up 12%

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price rose 12% during trading on Monday . The company traded as high as $2.53 and last traded at $2.52. Approximately 763,774 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 749,200 shares. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

Several research firms have weighed in on TWKS. William Blair restated a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup reduced their price target on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Piper Sandler lowered their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada reduced their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report 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 data from MarketBeat, Thoughtworks has a consensus rating of “Hold” and a consensus price target of $4.58.

Thoughtworks Trading Up 12.0 %

The firm has a market cap of $813.52 million, a PE ratio of -11.45 and a beta of 0.97. The company’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $3.68. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results 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 analysts’ expectations of $268.34 million. As a group, sell-side analysts forecast that Thoughtworks Holding, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Thoughtworks

Several large investors have recently added to or reduced their stakes in the stock. Mubadala Investment Co PJSC bought a new position in Thoughtworks in the fourth quarter worth approximately $37,411,000. LGT Capital Partners LTD. bought a new position in Thoughtworks during the 4th quarter worth about $4,233,000. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 564,141 shares in the last quarter. Rathbones Group PLC purchased a new stake in shares of Thoughtworks in the 3rd quarter worth approximately $1,078,000. Finally, B. Riley Asset Management LLC increased its holdings in Thoughtworks by 80.6% during the third quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock valued at $2,292,000 after buying an additional 250,785 shares during the period. 32.81% of the stock is owned by hedge funds and other institutional investors.

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.