Thoughtworks (NASDAQ:TWKS) Shares Down 4.2%

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares traded down 4.2% during trading on Friday . The company traded as low as $2.27 and last traded at $2.28. 157,916 shares were traded during mid-day trading, a decline of 79% from the average session volume of 745,142 shares. The stock had previously closed at $2.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TWKS shares. Piper Sandler dropped their target price on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada dropped their price objective on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Citigroup dropped their price target on Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.58.

Thoughtworks Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $726.37 million, a P/E ratio of -10.23 and a beta of 0.97. The company has a 50 day moving average of $2.52 and a 200-day moving average of $3.68.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) 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 during the quarter, compared to analyst estimates of $268.34 million. On average, sell-side analysts predict that Thoughtworks Holding, Inc. will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in shares of Thoughtworks during the 3rd quarter worth $41,000. Catalina Capital Group LLC acquired a new stake in Thoughtworks during the first quarter worth about $26,000. Jump Financial LLC bought a new position in Thoughtworks in the 3rd quarter valued at about $45,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Thoughtworks in the 3rd quarter valued at approximately $49,000. Finally, SG Americas Securities LLC acquired a new position in shares of Thoughtworks in the 3rd quarter valued at approximately $56,000. 32.81% of the stock is owned by institutional investors and hedge funds.

About Thoughtworks

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.