Thoughtworks (NASDAQ:TWKS) Trading 4.7% Higher

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price shot up 4.7% on Tuesday . The stock traded as high as $2.47 and last traded at $2.46. 138,572 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 848,392 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler reduced 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. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Robert W. Baird raised shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective on the stock in a report on Tuesday, January 2nd. Royal Bank of Canada lowered their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Finally, Citigroup lifted their price objective on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. 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.com, the stock presently has an average rating of “Hold” and an average target price of $5.08.

Thoughtworks Price Performance

The stock has a market cap of $816.51 million, a price-to-earnings ratio of -11.50 and a beta of 1.03. The firm’s 50 day moving average is $3.68 and its two-hundred day moving average is $4.02. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. On average, sell-side analysts predict that Thoughtworks Holding, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Thoughtworks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of Thoughtworks by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 129,878 shares of the company’s stock worth $2,702,000 after buying an additional 8,165 shares during the period. Citigroup Inc. increased its position in shares of Thoughtworks by 52.3% in the first quarter. Citigroup Inc. now owns 7,897 shares of the company’s stock worth $165,000 after acquiring an additional 2,713 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Thoughtworks by 12,615.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock valued at $153,000 after acquiring an additional 7,317 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Thoughtworks during the 1st quarter worth $31,000. Finally, BlackRock Inc. increased its holdings in Thoughtworks by 59.9% in the 1st quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock valued at $98,277,000 after purchasing an additional 1,769,406 shares in the last quarter. 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.