Wedbush Comments on Thoughtworks Holding, Inc.’s Q1 2024 Earnings (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Stock analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for shares of Thoughtworks in a research note issued to investors on Monday, April 15th. Wedbush analyst M. Katri anticipates that the company will earn ($0.04) per share for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.04) per share. Wedbush also issued estimates for Thoughtworks’ Q2 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.07) EPS.

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

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

Thoughtworks Stock Up 1.3 %

Shares of NASDAQ TWKS opened at $2.32 on Thursday. The stock has a market cap of $748.97 million, a PE ratio of -10.41 and a beta of 0.99. 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 has a 52-week low of $2.19 and a 52-week high of $8.41. The business has a 50-day moving average price of $2.96 and a 200 day moving average price of $3.82.

Institutional Trading of Thoughtworks

Hedge funds have recently added to or reduced their stakes in the stock. LGT Capital Partners LTD. acquired a new stake in shares of Thoughtworks in the 4th quarter valued at approximately $4,233,000. Vanguard Group Inc. lifted its holdings in shares of Thoughtworks by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after buying an additional 564,141 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Thoughtworks in the 3rd quarter valued at approximately $287,000. Rathbones Group PLC acquired a new stake in shares of Thoughtworks in the 3rd quarter valued at approximately $1,078,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Thoughtworks in the 3rd quarter valued at approximately $49,000. 32.81% of the stock is owned by institutional investors and hedge funds.

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.