Thoughtworks (NASDAQ:TWKS) Given New $2.50 Price Target at Citigroup

Thoughtworks (NASDAQ:TWKS) had its price target trimmed by Citigroup from $2.75 to $2.50 in a report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on TWKS. Piper Sandler decreased their price target on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research report on Tuesday, February 27th. William Blair restated a market perform rating on shares of Thoughtworks 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 on the stock in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada reduced their price objective on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock 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 company. According to MarketBeat.com, Thoughtworks presently has a consensus rating of Hold and an average price target of $4.58.

Thoughtworks Trading Up 4.7 %

TWKS stock opened at $2.43 on Monday. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41. The firm has a market cap of $784.47 million, a P/E ratio of -11.05 and a beta of 0.99. The business’s 50 day moving average is $2.88 and its 200-day moving average is $3.79. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. LGT Capital Partners LTD. acquired a new position in Thoughtworks during the 4th quarter worth $4,233,000. Vanguard Group Inc. lifted its stake in shares of Thoughtworks by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after purchasing an additional 564,141 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Thoughtworks in the 3rd quarter valued at $287,000. Rathbones Group PLC acquired a new position in shares of Thoughtworks in the 3rd quarter valued at $1,078,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Thoughtworks in the 3rd quarter valued at $49,000. Institutional investors and hedge funds 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.