Q4 2022 EPS Estimates for Thoughtworks Holding, Inc. Cut by Wedbush (NASDAQ:TWKS)

Thoughtworks Holding, Inc. (NASDAQ:TWKSGet Rating) – Stock analysts at Wedbush dropped their Q4 2022 earnings per share estimates for Thoughtworks in a research report issued on Monday, November 14th. Wedbush analyst M. Katri now anticipates that the company will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.04. The consensus estimate for Thoughtworks’ current full-year earnings is $0.01 per share. Wedbush also issued estimates for Thoughtworks’ FY2023 earnings at $0.18 EPS.

Thoughtworks (NASDAQ:TWKSGet Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $332.40 million for the quarter, compared to the consensus estimate of $327.52 million. Thoughtworks had a negative net margin of 12.29% and a negative return on equity of 15.64%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share.

A number of other research analysts have also recently issued reports on the company. Citigroup cut 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. JPMorgan Chase & Co. cut their price objective on Thoughtworks from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 14th. Cowen cut their price target on Thoughtworks from $16.00 to $12.00 in a report on Tuesday. Cowen cut their price target on Thoughtworks from $16.00 to $12.00 in a report on Tuesday. Finally, Robert W. Baird cut their price target on Thoughtworks from $18.00 to $14.00 in a report on Tuesday, October 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.72.

Thoughtworks Stock Down 4.2 %

Shares of NASDAQ TWKS opened at $8.95 on Thursday. The stock has a market cap of $2.78 billion, a PE ratio of -17.21, a PEG ratio of 46.05 and a beta of 0.98. The business has a fifty day moving average of $10.19 and a two-hundred day moving average of $13.53. Thoughtworks has a 52-week low of $7.61 and a 52-week high of $33.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.39 and a current ratio of 2.64.

Insider Buying and Selling

In related news, insider Angela Ferguson sold 10,000 shares of Thoughtworks stock in a transaction dated 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 in the company, valued at $1,374,730.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Angela Ferguson sold 10,000 shares of Thoughtworks stock in a transaction dated 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 in the company, valued at $1,374,730.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Gerard Murphy sold 14,479 shares of Thoughtworks stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total value of $171,141.78. Following the completion of the sale, the chief executive officer now owns 383,519 shares of the company’s stock, valued at $4,533,194.58. The disclosure for this sale can be found here. Insiders sold a total of 60,597 shares of company stock worth $674,757 over the last three months. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Thoughtworks

Several institutional investors have recently modified their holdings of the stock. M&T Bank Corp grew its position in shares of Thoughtworks by 12.8% during the 3rd quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock worth $188,000 after buying an additional 2,021 shares during the period. State Street Corp grew its position in shares of Thoughtworks by 22.1% during the 3rd quarter. State Street Corp now owns 1,063,669 shares of the company’s stock worth $11,158,000 after buying an additional 192,288 shares during the period. Vanguard Group Inc. grew its position in shares of Thoughtworks by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,612,949 shares of the company’s stock worth $69,371,000 after buying an additional 441,884 shares during the period. Marshall Wace LLP acquired a new position in shares of Thoughtworks during the 3rd quarter worth about $995,000. Finally, Ensign Peak Advisors Inc grew its position in shares of Thoughtworks by 0.3% during the 3rd quarter. Ensign Peak Advisors Inc now owns 2,186,264 shares of the company’s stock worth $22,933,000 after buying an additional 6,936 shares during the period. 18.71% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Thoughtworks (NASDAQ:TWKS)

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