Robert W. Baird Boosts Thoughtworks (NASDAQ:TWKS) Price Target to $6.00

Thoughtworks (NASDAQ:TWKS) had its target price increased by research analysts at Robert W. Baird from $5.00 to $6.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 101.34% from the stock’s current price.

A number of other analysts also recently commented on the company. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada reduced their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Citigroup lowered their target price on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Piper Sandler cut their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.94.

Thoughtworks Stock Up 0.3 %

TWKS stock opened at $2.98 on Wednesday. The company’s 50 day simple moving average is $2.47 and its 200-day simple moving average is $3.66. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $8.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a market capitalization of $962.03 million, a P/E ratio of -13.50 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The company had revenue of $252.39 million for the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Thoughtworks will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Thoughtworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Thoughtworks in the 3rd quarter worth approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Thoughtworks by 31.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company’s stock worth $80,000 after acquiring an additional 4,681 shares during the last quarter. Summit Creek Advisors LLC lifted its stake in shares of Thoughtworks by 18.7% during the third quarter. Summit Creek Advisors LLC now owns 1,081,951 shares of the company’s stock valued at $4,414,000 after acquiring an additional 170,703 shares during the period. Victory Capital Management Inc. bought a new position in Thoughtworks in the third quarter valued at about $41,000. Finally, Jump Financial LLC acquired a new stake in Thoughtworks in the third quarter worth about $45,000. Institutional investors and hedge funds 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.