Thoughtworks Holding, Inc. (NASDAQ:TWKS) Expected to Post Quarterly Sales of $304.30 Million

Equities analysts expect Thoughtworks Holding, Inc. (NASDAQ:TWKSGet Rating) to report sales of $304.30 million for the current quarter, according to Zacks. Four analysts have made estimates for Thoughtworks’ earnings, with the highest sales estimate coming in at $304.50 million and the lowest estimate coming in at $304.10 million. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Thoughtworks will report full year sales of $1.32 billion for the current fiscal year. For the next year, analysts expect that the firm will post sales of $1.60 billion, with estimates ranging from $1.59 billion to $1.61 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Thoughtworks.

Thoughtworks (NASDAQ:TWKSGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $286.80 million for the quarter, compared to analyst estimates of $286.61 million. The firm’s revenue was up 39.0% compared to the same quarter last year.

TWKS has been the subject of a number of research reports. Zacks Investment Research downgraded Thoughtworks from a “buy” rating to a “hold” rating in a report on Thursday, March 10th. Credit Suisse Group reduced their price target on Thoughtworks from $31.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 2nd. Robert W. Baird reduced their price target on Thoughtworks from $30.00 to $25.00 in a research report on Thursday. Citigroup reduced their price target on Thoughtworks from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Finally, Piper Sandler reduced their price target on Thoughtworks from $35.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $29.33.

A number of large investors have recently added to or reduced their stakes in the stock. Yarbrough Capital LLC bought a new position in Thoughtworks during the 1st quarter worth $377,000. Amalgamated Bank bought a new position in Thoughtworks during the 4th quarter worth $220,000. Public Employees Retirement System of Ohio bought a new position in Thoughtworks during the 4th quarter worth $614,000. Ensign Peak Advisors Inc increased its stake in Thoughtworks by 210.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,804,513 shares of the company’s stock worth $48,379,000 after acquiring an additional 1,222,790 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Thoughtworks during the 4th quarter worth $61,000. 15.54% of the stock is owned by institutional investors and hedge funds.

Shares of Thoughtworks stock traded up $0.21 during trading hours on Monday, hitting $20.32. The company’s stock had a trading volume of 297,326 shares, compared to its average volume of 611,403. Thoughtworks has a 12 month low of $17.79 and a 12 month high of $34.43. The stock has a 50 day moving average of $20.91 and a 200 day moving average of $24.77. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.70.

Thoughtworks Company Profile (Get Rating)

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.

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Earnings History and Estimates for Thoughtworks (NASDAQ:TWKS)

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