Thoughtworks (NASDAQ:TWKS) Releases Q2 2022 Earnings Guidance

Thoughtworks (NASDAQ:TWKSGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.11-$0.12 for the period, compared to the consensus estimate of $0.12. The company issued revenue guidance of $328.00 million-$329.00 million, compared to the consensus revenue estimate of $322.36 million.Thoughtworks also updated its FY 2022 guidance to $0.51-$0.53 EPS.

Several equities analysts recently commented on TWKS shares. The Goldman Sachs Group raised shares of Thoughtworks from a neutral rating to a buy rating and reduced their target price for the company from $34.00 to $32.00 in a report on Sunday, January 9th. Robert W. Baird decreased their price objective on Thoughtworks from $30.00 to $25.00 in a report on Thursday, April 14th. Citigroup lowered their target price on Thoughtworks from $36.00 to $30.00 and set a buy rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research lowered Thoughtworks from a buy rating to a hold rating in a research report on Thursday, March 10th. Finally, Credit Suisse Group lowered their price objective on Thoughtworks from $31.00 to $25.00 and set a neutral 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and an average price target of $29.33.

Shares of TWKS traded down $0.10 during mid-day trading on Monday, hitting $17.39. 3,906 shares of the company’s stock traded hands, compared to its average volume of 592,478. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.76 and a quick ratio of 3.76. The business’s 50-day moving average price is $20.03 and its 200-day moving average price is $24.02. Thoughtworks has a 1 year low of $16.95 and a 1 year high of $34.43.

Thoughtworks (NASDAQ:TWKSGet Rating) last posted its earnings results on Tuesday, March 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $286.80 million during the quarter, compared to analysts’ expectations of $286.61 million. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. On average, equities research analysts predict that Thoughtworks will post -0.12 EPS for the current year.

A hedge fund recently bought a new stake in Thoughtworks stock. Amalgamated Bank purchased a new position in Thoughtworks Holding, Inc. (NASDAQ:TWKSGet Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,198 shares of the company’s stock, valued at approximately $220,000. Institutional investors own 17.02% of the company’s stock.

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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