Thoughtworks Holding, Inc. (NASDAQ:TWKS) Forecasted to Post Q1 2024 Earnings of ($0.04) Per Share

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Equities researchers at Wedbush issued their Q1 2024 earnings per share estimates for shares of Thoughtworks in a research report issued to clients and investors on Monday, April 15th. Wedbush analyst M. Katri anticipates that the company will post earnings of ($0.04) per share for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q2 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.07) EPS.

TWKS has been the subject of several other reports. Robert W. Baird raised Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective for the company in a report on Tuesday, January 2nd. Piper Sandler cut their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Citigroup raised their price target on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Finally, Royal Bank of Canada cut their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.08.

Thoughtworks Stock Down 0.4 %

Shares of NASDAQ TWKS opened at $2.26 on Thursday. The stock has a fifty day simple moving average of $3.05 and a two-hundred day simple moving average of $3.85. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69.

Thoughtworks (NASDAQ:TWKS) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%.

Institutional Trading of Thoughtworks

Several large investors have recently modified their holdings of TWKS. MetLife Investment Management LLC bought a new stake in Thoughtworks during the 1st quarter valued at approximately $31,000. Charles Schwab Investment Management Inc. boosted its position in Thoughtworks by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 525,299 shares of the company’s stock valued at $3,866,000 after acquiring an additional 1,864 shares in the last quarter. M&T Bank Corp boosted its position in Thoughtworks by 12.8% during the 3rd quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock valued at $188,000 after acquiring an additional 2,021 shares in the last quarter. State of Wyoming boosted its position in Thoughtworks by 80.4% during the 2nd quarter. State of Wyoming now owns 4,614 shares of the company’s stock valued at $35,000 after acquiring an additional 2,057 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in Thoughtworks during the 1st quarter valued at approximately $44,000. 32.81% of the stock is owned by institutional investors.

Thoughtworks Company Profile

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.