Thoughtworks (NASDAQ:TWKS) Releases Earnings Results

Thoughtworks (NASDAQ:TWKS – Get Rating) issued its earnings results on Monday. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01, MarketWatch Earnings reports. The business had revenue of $320.90 million for the quarter, compared to analyst estimates of $304.25 million. Thoughtworks’s revenue for the quarter was up 35.1% compared to the same quarter last year.

Shares of NASDAQ:TWKS traded down $0.99 during trading hours on Monday, hitting $16.50. 10,972 shares of the company’s stock traded hands, compared to its average volume of 592,478. Thoughtworks has a 52 week low of $16.95 and a 52 week high of $34.43. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.76 and a current ratio of 3.76. The company’s fifty day simple moving average is $20.03 and its two-hundred day simple moving average is $24.02.

TWKS has been the topic of a number of research reports. Citigroup dropped their target price on shares of Thoughtworks from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 2nd. Credit Suisse Group dropped their price objective on shares of Thoughtworks from $31.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 2nd. Royal Bank of Canada dropped their price objective on shares of Thoughtworks from $36.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. The Goldman Sachs Group raised shares of Thoughtworks from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $34.00 to $32.00 in a report on Sunday, January 9th. Finally, Piper Sandler dropped their price objective on shares of Thoughtworks from $35.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $29.33.

An institutional investor recently bought a new position in Thoughtworks stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,895 shares of the company’s stock, valued at approximately $614,000. Institutional investors and hedge funds own 17.02% of the company’s stock.

About Thoughtworks (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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