Robert W. Baird Increases Thoughtworks (NASDAQ:TWKS) Price Target to $6.00

Thoughtworks (NASDAQ:TWKS) had its target price increased by analysts at Robert W. Baird from $5.00 to $6.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 101.34% from the stock’s current price.

TWKS has been the subject of several other research reports. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Royal Bank of Canada lowered their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company 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. Finally, Piper Sandler decreased their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Thoughtworks presently has an average rating of “Hold” and an average target price of $4.94.

Thoughtworks Stock Performance

Thoughtworks stock opened at $2.98 on Wednesday. The company has a market cap of $962.03 million, a PE ratio of -13.50 and a beta of 0.97. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.31. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $2.47 and its 200-day moving average price is $3.66.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The company had revenue of $252.39 million during the quarter, compared to analysts’ expectations of $268.34 million. On average, equities research analysts forecast that Thoughtworks will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Thoughtworks

Several institutional investors have recently bought and sold shares of TWKS. Victory Capital Management Inc. purchased a new stake in shares of Thoughtworks during the 3rd quarter valued at $41,000. Catalina Capital Group LLC purchased a new stake in Thoughtworks in the first quarter valued at about $26,000. Jump Financial LLC acquired a new position in shares of Thoughtworks during the third quarter valued at about $45,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Thoughtworks in the 3rd quarter valued at approximately $49,000. Finally, SG Americas Securities LLC purchased a new stake in Thoughtworks during the 3rd quarter worth approximately $56,000. 32.81% of the stock is currently 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.