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

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price 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 trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. William Blair restated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target on the stock in a research report on Tuesday, January 2nd. 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. Finally, Piper Sandler decreased their price objective on 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Trading Down 0.4 %

The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average price of $3.10 and a 200 day moving average price of $3.86.

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

Institutional Trading of Thoughtworks

Several large investors have recently bought and sold shares of TWKS. Siemens AG bought a new stake in Thoughtworks during the 4th quarter valued at approximately $246,109,000. Mubadala Investment Co PJSC bought a new stake in Thoughtworks during the 4th quarter valued at approximately $37,411,000. BlackRock Inc. boosted its position in shares of Thoughtworks by 75.4% in the 2nd quarter. BlackRock Inc. now owns 6,837,451 shares of the company’s stock worth $51,623,000 after purchasing an additional 2,939,032 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Thoughtworks by 156.1% in the 1st quarter. WCM Investment Management LLC now owns 1,693,383 shares of the company’s stock worth $12,463,000 after purchasing an additional 1,032,267 shares in the last quarter. Finally, LGT Capital Partners LTD. bought a new stake in shares of Thoughtworks in the 4th quarter worth approximately $4,233,000. 32.81% of the stock is owned by institutional investors.

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.