Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.71

Thoughtworks Holding, Inc. (NASDAQ:TWKS) gapped up before the market opened on Friday . The stock had previously closed at $2.71, but opened at $2.80. Thoughtworks shares last traded at $2.83, with a volume of 11,740 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 price target on the stock. Robert W. Baird increased their price target on shares of Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Wedbush reiterated an “outperform” rating and set a $6.00 price target on shares of Thoughtworks in a research report on Wednesday, May 8th. Finally, Citigroup increased their price target on shares of Thoughtworks from $2.50 to $3.25 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.59.

Thoughtworks Stock Performance

The stock has a market cap of $917.06 million, a PE ratio of -9.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.87 and a quick ratio of 2.87. The business has a 50 day moving average price of $2.78 and a two-hundred day moving average price of $3.41.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. The business had revenue of $248.59 million during the quarter, compared to analysts’ expectations of $242.77 million. As a group, equities research analysts forecast that Thoughtworks Holding, Inc. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Thoughtworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalina Capital Group LLC purchased a new position in Thoughtworks during the first quarter valued at $26,000. Duality Advisers LP purchased a new position in Thoughtworks during the first quarter valued at $36,000. Envestnet Portfolio Solutions Inc. purchased a new position in Thoughtworks during the third quarter valued at $49,000. Pitcairn Co. purchased a new position in Thoughtworks during the first quarter valued at $102,000. Finally, State Board of Administration of Florida Retirement System lifted its position in Thoughtworks by 52.3% during the first 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 during the period. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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.