Thoughtworks (NASDAQ:TWKS) Sees Unusually-High Trading Volume – What’s Next?

Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw unusually-high trading volume on Monday . Approximately 3,610,351 shares traded hands during trading, an increase of 126% from the previous session’s volume of 1,599,106 shares.The stock last traded at $4.44 and had previously closed at $4.42.

Analysts Set New Price Targets

Several analysts recently weighed in on TWKS shares. The Goldman Sachs Group started coverage on Thoughtworks in a report on Monday, June 24th. They issued a “sell” rating and a $2.50 price objective for the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. Piper Sandler upped their target price on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Baird R W downgraded Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Thoughtworks has a consensus rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Trading Up 1.1 %

The company has a 50 day moving average of $4.38 and a two-hundred day moving average of $3.39. The stock has a market capitalization of $1.44 billion, a PE ratio of -12.28 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.59 and a current ratio of 2.59.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $251.70 million for the quarter, compared to analyst estimates of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. Sell-side analysts predict that Thoughtworks Holding, Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Thoughtworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TWKS. Catalina Capital Group LLC purchased a new position in Thoughtworks during the 1st quarter worth approximately $26,000. Algert Global LLC acquired a new stake in Thoughtworks during the 2nd quarter worth about $33,000. Duality Advisers LP purchased a new position in shares of Thoughtworks during the 1st quarter valued at about $36,000. Simplicity Wealth LLC acquired a new position in shares of Thoughtworks in the 2nd quarter valued at about $44,000. Finally, SG Americas Securities LLC acquired a new position in shares of Thoughtworks in the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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.