Thoughtworks (NASDAQ:TWKS) Stock Price Down 4.2%

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on TWKS shares. 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 note on Wednesday, February 28th. Citigroup lowered their price objective on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Piper Sandler lowered their price objective on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.58.

Thoughtworks Stock Down 5.5 %

The firm has a market cap of $726.37 million, a P/E ratio of -10.23 and a beta of 0.97. The firm has a fifty day moving average of $2.52 and a 200-day moving average of $3.69. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm 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%. On average, equities research analysts anticipate that Thoughtworks Holding, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Thoughtworks

Several large investors have recently modified their holdings of TWKS. LGT Capital Partners LTD. bought a new position in Thoughtworks in the 4th quarter valued at about $4,233,000. Vanguard Group Inc. boosted its stake in 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 Thoughtworks in the 3rd quarter valued at $287,000. Rathbones Group PLC bought a new position in Thoughtworks during the 3rd quarter worth $1,078,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Thoughtworks during the third quarter worth $49,000. 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.