Thoughtworks (NASDAQ:TWKS) Shares Down 2.8%

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) dropped 2.8% during trading on Thursday . The company traded as low as $2.46 and last traded at $2.46. Approximately 405,641 shares traded hands during trading, a decline of 52% from the average daily volume of 839,275 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

TWKS has been the subject of a number of research reports. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Citigroup boosted their target price on shares of Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Royal Bank of Canada decreased their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Robert W. Baird upgraded 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. Finally, Piper Sandler reduced their target price on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.08.

Thoughtworks Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $3.71 and its two-hundred day simple moving average is $4.03.

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

Institutional Trading of Thoughtworks

A number of institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC acquired a new position in Thoughtworks during the 1st quarter valued at about $31,000. Great West Life Assurance Co. Can acquired a new position in shares of Thoughtworks in the second quarter worth about $32,000. State of Wyoming lifted its position in shares of Thoughtworks by 80.4% in the second quarter. State of Wyoming now owns 4,614 shares of the company’s stock worth $35,000 after purchasing an additional 2,057 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Thoughtworks in the third quarter worth approximately $41,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Thoughtworks in the first quarter worth approximately $44,000. 32.81% of the stock is owned by institutional investors and hedge funds.

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.