Thoughtworks (NASDAQ:TWKS) Stock Rating Lowered by Baird R W

Baird R W cut shares of Thoughtworks (NASDAQ:TWKS) from a strong-buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Robert W. Baird reissued a neutral rating and set a $4.40 price target on shares of Thoughtworks in a research report on Tuesday. Piper Sandler raised their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the company a neutral rating in a research report on Tuesday. Citigroup dropped their price target on shares of Thoughtworks from $3.25 to $2.75 and set a neutral rating on the stock in a research report on Friday, July 12th. Wedbush reissued an outperform rating and set a $6.00 price target on shares of Thoughtworks in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group started coverage on shares of Thoughtworks in a report on Monday, June 24th. They set a sell rating and a $2.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Thoughtworks presently has an average rating of Hold and an average target price of $4.44.

Thoughtworks Stock Up 0.2 %

Shares of Thoughtworks stock traded up $0.01 during trading hours on Tuesday, reaching $4.34. The company’s stock had a trading volume of 2,422,851 shares, compared to its average volume of 1,137,930. Thoughtworks has a one year low of $2.19 and a one year high of $5.20. The company has a market capitalization of $1.40 billion, a P/E ratio of -14.97 and a beta of 1.10. The stock’s fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $3.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.74%. The business had revenue of $251.70 million during the quarter, compared to the consensus estimate of $251.37 million. During the same period last year, the business posted ($0.01) earnings per share. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. On average, research analysts forecast that Thoughtworks will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Thoughtworks

Large investors have recently modified their holdings of the business. Mubadala Investment Co PJSC purchased a new position in Thoughtworks during the fourth quarter valued at approximately $37,411,000. Vanguard Group Inc. lifted its position in Thoughtworks by 5.4% during the third 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Thoughtworks by 1,094.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock worth $1,228,000 after acquiring an additional 444,712 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Thoughtworks in the 1st quarter worth approximately $36,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Thoughtworks in the 1st quarter worth approximately $210,000. Hedge funds and other 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.