Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares saw strong trading volume on Monday . 1,556,017 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 1,374,349 shares.The stock last traded at $4.39 and had previously closed at $4.40.

Wall Street Analysts Forecast Growth

TWKS has been the topic of a number of recent analyst reports. Citigroup lowered their price target on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Piper Sandler lifted their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Robert W. Baird restated a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Thoughtworks in a research note on Monday, June 24th. They set a “sell” rating and a $2.50 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.18.

Thoughtworks Trading Down 0.2 %

The stock has a market capitalization of $1.42 billion, a PE ratio of -15.17 and a beta of 1.14. The company’s 50 day moving average price is $3.83 and its two-hundred day moving average price is $3.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.59 and a quick ratio of 2.59.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The company had revenue of $251.70 million during the quarter, compared to analyst estimates of $251.37 million. During the same period in the prior year, the business posted ($0.01) EPS. Thoughtworks’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts expect that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in shares of Thoughtworks by 20.5% in the 2nd quarter. Arizona State Retirement System now owns 31,622 shares of the company’s stock valued at $90,000 after purchasing an additional 5,369 shares during the last quarter. Catalina Capital Group LLC boosted its stake in Thoughtworks by 67.5% during the second quarter. Catalina Capital Group LLC now owns 17,439 shares of the company’s stock worth $50,000 after buying an additional 7,026 shares during the period. Summit Creek Advisors LLC increased its position in shares of Thoughtworks by 0.7% during the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock valued at $3,379,000 after acquiring an additional 8,986 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Thoughtworks by 49.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company’s stock worth $84,000 after acquiring an additional 9,793 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Thoughtworks in the 2nd quarter valued at approximately $33,000. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

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.