Thoughtworks (NASDAQ:TWKS) Releases Q2 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of ($0.01) to $0.01 for the period, compared to the consensus estimate of $0.01. The company issued revenue guidance of $250 million to $255 million, compared to the consensus revenue estimate of $242.68 million. Thoughtworks also updated its FY24 guidance to $0.02 to $0.08 EPS.

Thoughtworks Trading Up 12.0 %

NASDAQ:TWKS opened at $2.52 on Tuesday. 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 firm’s fifty day simple moving average is $2.48 and its 200 day simple moving average is $3.68. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.41.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share 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 for the quarter, compared to the consensus estimate of $268.34 million. Equities analysts predict that Thoughtworks will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on TWKS. Piper Sandler dropped their price target on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research report on Tuesday, February 27th. William Blair reiterated a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Citigroup lowered their target price on shares of Thoughtworks from $2.75 to $2.50 and set a neutral rating for the company in a report on Monday, April 22nd. Finally, Royal Bank of Canada cut their price target on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $4.58.

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.