Thoughtworks (NASDAQ:TWKS) Receives Neutral Rating from Robert W. Baird

Robert W. Baird reiterated their neutral rating on shares of Thoughtworks (NASDAQ:TWKS) in a research note released on Tuesday, Benzinga reports. Robert W. Baird currently has a $4.40 price objective on the stock.

TWKS has been the subject of a number of other reports. Wedbush reaffirmed an outperform rating and set a $6.00 price target on shares of Thoughtworks in a research note on Wednesday, May 8th. JPMorgan Chase & Co. reissued a neutral rating on shares of Thoughtworks in a research note on Tuesday. The Goldman Sachs Group initiated coverage on Thoughtworks in a research note on Monday, June 24th. They issued a sell rating and a $2.50 price objective on the stock. Finally, Citigroup dropped their price target on Thoughtworks from $3.25 to $2.75 and set a neutral rating on the stock in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $4.44.

Thoughtworks Stock Up 0.2 %

Shares of NASDAQ TWKS opened at $4.33 on Tuesday. Thoughtworks has a one year low of $2.19 and a one year high of $5.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87. The business has a 50-day moving average price of $2.96 and a two-hundred day moving average price of $3.10.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) EPS for the quarter. Thoughtworks had a negative return on equity of 5.74% and a negative net margin of 11.20%. The business had revenue of $251.70 million for the quarter, compared to analyst estimates of $251.37 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts expect that Thoughtworks will post -0.02 earnings per share for the current year.

Institutional Trading of Thoughtworks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Thoughtworks by 1.0% during the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock valued at $28,959,000 after purchasing an additional 112,782 shares during the period. Mubadala Investment Co PJSC bought a new stake in shares of Thoughtworks during the fourth quarter worth $37,411,000. Summit Creek Advisors LLC grew its holdings in shares of Thoughtworks by 0.7% during the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after purchasing an additional 8,986 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Thoughtworks by 1,094.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock valued at $1,228,000 after acquiring an additional 444,712 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Thoughtworks by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 468,654 shares of the company’s stock valued at $1,331,000 after acquiring an additional 63,679 shares during the period. 32.81% of the stock is currently owned by institutional investors.

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.