Thoughtworks (NASDAQ:TWKS) PT Lowered to $13.00

Thoughtworks (NASDAQ:TWKSGet Rating) had its target price cut by analysts at Credit Suisse Group from $16.00 to $13.00 in a report released on Tuesday, Marketbeat reports. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target would suggest a potential upside of 39.19% from the stock’s current price.

Several other equities analysts have also recently weighed in on TWKS. Citigroup dropped their price objective on Thoughtworks from $24.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, August 16th. Cowen lowered their price target on Thoughtworks from $16.00 to $12.00 in a report on Tuesday. Piper Sandler cut Thoughtworks from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $9.50 in a report on Monday. JPMorgan Chase & Co. lowered their price target on Thoughtworks from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 14th. Finally, Cowen lowered their price target on Thoughtworks from $16.00 to $12.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thoughtworks has a consensus rating of “Moderate Buy” and an average target price of $15.72.

Thoughtworks Stock Down 1.8 %

Shares of Thoughtworks stock opened at $9.34 on Tuesday. The business’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $13.56. Thoughtworks has a 52-week low of $7.61 and a 52-week high of $33.69. The firm has a market cap of $2.91 billion, a PE ratio of -17.96, a P/E/G ratio of 51.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.39 and a current ratio of 3.39.

Thoughtworks (NASDAQ:TWKSGet Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Thoughtworks had a negative net margin of 12.27% and a negative return on equity of 16.86%. The company had revenue of $332.40 million during the quarter, compared to the consensus estimate of $327.52 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts predict that Thoughtworks will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Thoughtworks

In related news, insider Sai Krishna Mandapaty sold 16,118 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total transaction of $190,514.76. Following the sale, the insider now owns 388,342 shares in the company, valued at approximately $4,590,202.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Sai Krishna Mandapaty sold 16,118 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total value of $190,514.76. Following the completion of the sale, the insider now directly owns 388,342 shares of the company’s stock, valued at $4,590,202.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela Ferguson sold 10,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $9.63, for a total value of $96,300.00. Following the completion of the sale, the insider now directly owns 142,755 shares of the company’s stock, valued at $1,374,730.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,597 shares of company stock worth $674,757. Insiders own 3.90% of the company’s stock.

Institutional Trading of Thoughtworks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ronald Blue Trust Inc. grew its holdings in shares of Thoughtworks by 48.4% in the third quarter. Ronald Blue Trust Inc. now owns 3,764 shares of the company’s stock valued at $53,000 after acquiring an additional 1,228 shares in the last quarter. MetLife Investment Management LLC bought a new position in Thoughtworks during the first quarter valued at $31,000. Assetmark Inc. grew its holdings in Thoughtworks by 548.4% during the second quarter. Assetmark Inc. now owns 2,010 shares of the company’s stock valued at $28,000 after purchasing an additional 1,700 shares during the period. Pendal Group Ltd grew its holdings in Thoughtworks by 4.5% during the second quarter. Pendal Group Ltd now owns 42,966 shares of the company’s stock valued at $606,000 after purchasing an additional 1,860 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in Thoughtworks during the first quarter valued at $44,000. 18.71% of the stock is owned by hedge funds and other institutional investors.

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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