Thoughtworks Holding, Inc. (NASDAQ:TWKS) Receives Consensus Rating of “Hold” from Analysts

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.94.

A number of research analysts have recently weighed in on TWKS shares. Credit Suisse Group reduced their target price on shares of Thoughtworks from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, March 1st. Piper Sandler decreased their target price on Thoughtworks from $9.50 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, March 1st. Citigroup dropped their price target on Thoughtworks from $8.00 to $7.00 in a research report on Monday, May 1st. Royal Bank of Canada decreased their price objective on Thoughtworks from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. Finally, Robert W. Baird dropped their price objective on shares of Thoughtworks from $12.00 to $8.00 in a report on Wednesday, March 1st.

Insiders Place Their Bets

In related news, CFO Erin Cummins bought 14,500 shares of Thoughtworks stock in a transaction on Tuesday, March 7th. The stock was acquired at an average price of $7.63 per share, with a total value of $110,635.00. Following the acquisition, the chief financial officer now directly owns 332,009 shares of the company’s stock, valued at $2,533,228.67. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Erin Cummins bought 14,500 shares of the stock in a transaction on Tuesday, March 7th. The shares were acquired at an average cost of $7.63 per share, for a total transaction of $110,635.00. Following the purchase, the chief financial officer now directly owns 332,009 shares of the company’s stock, valued at approximately $2,533,228.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Guo Xiao purchased 35,000 shares of Thoughtworks stock in a transaction dated Thursday, March 2nd. The shares were purchased at an average price of $7.64 per share, with a total value of $267,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,389,647 shares in the company, valued at $10,616,903.08. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thoughtworks

A number of institutional investors have recently added to or reduced their stakes in TWKS. Bank of New York Mellon Corp grew its holdings in shares of Thoughtworks by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 129,878 shares of the company’s stock worth $2,702,000 after purchasing an additional 8,165 shares in the last quarter. Citigroup Inc. grew its stake in Thoughtworks by 52.3% in the 1st quarter. Citigroup Inc. now owns 7,897 shares of the company’s stock worth $165,000 after buying an additional 2,713 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Thoughtworks by 12,615.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock worth $153,000 after buying an additional 7,317 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Thoughtworks during the 1st quarter valued at $31,000. Finally, BlackRock Inc. lifted its holdings in shares of Thoughtworks by 59.9% during the 1st quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after acquiring an additional 1,769,406 shares during the last quarter. 19.74% of the stock is currently owned by institutional investors.

Thoughtworks Stock Performance

Shares of TWKS opened at $7.65 on Tuesday. The stock has a 50 day moving average of $7.10 and a 200 day moving average of $8.80. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.50. Thoughtworks has a 12 month low of $5.93 and a 12 month high of $18.25. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -21.86, a PEG ratio of 3.56 and a beta of 0.88.

Thoughtworks (NASDAQ:TWKS – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $310.74 million during the quarter, compared to analyst estimates of $307.04 million. Thoughtworks had a negative return on equity of 9.65% and a negative net margin of 8.11%. As a group, sell-side analysts forecast that Thoughtworks will post 0.21 earnings per share for the current year.

About Thoughtworks

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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.