Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.26

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) gapped up before the market opened on Tuesday . The stock had previously closed at $2.26, but opened at $2.31. Thoughtworks shares last traded at $2.21, with a volume of 22,400 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on TWKS. Robert W. Baird upgraded shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a research note on Tuesday, January 2nd. Piper Sandler cut their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada cut their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. William Blair reissued a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Finally, Citigroup raised their price target on shares of Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Stock Down 0.4 %

The company’s fifty day simple moving average is $3.05 and its 200 day simple moving average is $3.85. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The firm had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. On average, equities analysts expect that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Thoughtworks

A number of hedge funds have recently made changes to their positions in TWKS. Siemens AG bought a new stake in shares of Thoughtworks during the 4th quarter worth $246,109,000. Mubadala Investment Co PJSC bought a new stake in shares of Thoughtworks during the 4th quarter worth $37,411,000. BlackRock Inc. lifted its holdings in shares of Thoughtworks by 75.4% during the 2nd quarter. BlackRock Inc. now owns 6,837,451 shares of the company’s stock worth $51,623,000 after acquiring an additional 2,939,032 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of Thoughtworks by 156.1% during the 1st quarter. WCM Investment Management LLC now owns 1,693,383 shares of the company’s stock worth $12,463,000 after acquiring an additional 1,032,267 shares during the last quarter. Finally, LGT Capital Partners LTD. bought a new stake in shares of Thoughtworks during the 4th quarter worth $4,233,000. 32.81% of the stock is 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.