Thoughtworks Holding, Inc. (NASDAQ:TWKS) to Post Q3 2024 Earnings of $0.00 Per Share, Wedbush Forecasts

Thoughtworks Holding, Inc. (NASDAQ:TWKS) – Wedbush issued their Q3 2024 EPS estimates for shares of Thoughtworks in a research report issued on Monday, April 15th. Wedbush analyst M. Katri forecasts that the company will post earnings per share of $0.00 for the quarter. The consensus estimate for Thoughtworks’ current full-year earnings is ($0.03) per share. Wedbush also issued estimates for Thoughtworks’ Q4 2024 earnings at $0.00 EPS and FY2025 earnings at $0.01 EPS.

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

A number of other analysts have also issued reports on the stock. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler lowered their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Royal Bank of Canada reduced their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Tuesday, January 2nd. Finally, Citigroup raised their price objective on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Stock Performance

Shares of Thoughtworks stock opened at $2.26 on Wednesday. Thoughtworks has a 52 week low of $2.19 and a 52 week high of $8.41. The company has a market capitalization of $729.60 million, a PE ratio of -10.27 and a beta of 0.99. The stock’s fifty day moving average is $3.05 and its two-hundred day moving average is $3.85. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On Thoughtworks

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Thoughtworks by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 129,878 shares of the company’s stock worth $2,702,000 after acquiring an additional 8,165 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Thoughtworks by 52.3% in the 1st quarter. Citigroup Inc. now owns 7,897 shares of the company’s stock valued at $165,000 after buying an additional 2,713 shares in the last quarter. PNC Financial Services Group Inc. grew its position 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 bought a new position in shares of Thoughtworks during the 1st quarter worth approximately $31,000. Finally, BlackRock Inc. lifted its position in Thoughtworks by 59.9% during the first quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock valued at $98,277,000 after acquiring an additional 1,769,406 shares during the last quarter. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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.