Thoughtworks (NASDAQ:TWKS) Price Target Raised to $3.25

Thoughtworks (NASDAQ:TWKS) had its price target boosted by analysts at Citigroup from $2.50 to $3.25 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 9.43% from the company’s current price.

A number of other research firms have also recently weighed in on TWKS. Robert W. Baird lifted their price objective on shares of Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday. William Blair reissued a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Thoughtworks in a report on Wednesday. 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 research report on Tuesday, February 27th. Finally, Royal Bank of Canada decreased their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Thoughtworks currently has a consensus rating of “Hold” and a consensus target price of $4.94.

Thoughtworks Price Performance

Shares of TWKS opened at $2.97 on Wednesday. The business’s 50-day moving average is $2.47 and its two-hundred day moving average is $3.66. The company has a market capitalization of $958.81 million, a P/E ratio of -13.50 and a beta of 0.97. Thoughtworks has a fifty-two week low of $2.19 and a fifty-two week high of $8.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69.

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

Institutional Investors Weigh In On Thoughtworks

Several hedge funds and other institutional investors have recently made changes to their positions in TWKS. State Board of Administration of Florida Retirement System grew its holdings in Thoughtworks by 52.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 40,246 shares of the company’s stock valued at $102,000 after buying an additional 13,826 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Thoughtworks during the 1st quarter valued at about $360,000. Duality Advisers LP purchased a new stake in shares of Thoughtworks in the first quarter valued at about $36,000. Catalina Capital Group LLC acquired a new stake in Thoughtworks during the first quarter worth about $26,000. Finally, Mubadala Investment Co PJSC purchased a new position in Thoughtworks during the fourth quarter worth about $37,411,000. Institutional investors and hedge funds own 32.81% of the company’s stock.

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.