Research Analysts Set Expectations for Thoughtworks Holding, Inc.’s Q3 2024 Earnings (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Wedbush issued their Q3 2024 EPS estimates for Thoughtworks in a report released on Monday, April 15th. Wedbush analyst M. Katri forecasts that the company will post earnings of $0.00 per share for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q4 2024 earnings at $0.00 EPS and FY2025 earnings at $0.01 EPS.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%.

A number of other research analysts have also weighed in on TWKS. Piper Sandler dropped their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Royal Bank of Canada reduced their target price on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Robert W. Baird raised Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a research report on Tuesday, January 2nd. Citigroup boosted their price objective on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Thoughtworks currently has an average rating of “Hold” and a consensus target price of $5.08.

Thoughtworks Price Performance

TWKS opened at $2.26 on Wednesday. Thoughtworks has a 1 year low of $2.19 and a 1 year high of $8.41. 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 company has a market capitalization of $729.60 million, a price-to-earnings ratio of -10.27 and a beta of 0.99. The firm’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $3.85.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Thoughtworks by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,333,636 shares of the company’s stock valued at $54,515,000 after acquiring an additional 273,708 shares during the period. Mubadala Investment Co PJSC bought a new position in Thoughtworks in the 4th quarter worth approximately $37,411,000. Goldman Sachs Group Inc. grew its stake in Thoughtworks by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 709,937 shares of the company’s stock valued at $3,415,000 after buying an additional 135,833 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Thoughtworks during the 4th quarter valued at $330,000. Finally, Barclays PLC lifted its position in shares of Thoughtworks by 336.2% during the fourth quarter. Barclays PLC now owns 145,886 shares of the company’s stock worth $702,000 after acquiring an additional 112,441 shares in the last quarter. 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.