Thoughtworks (NASDAQ:TWKS) Sees Large Volume Increase

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw unusually-strong trading volume on Monday . Approximately 809,238 shares were traded during trading, a decline of 46% from the previous session’s volume of 1,490,530 shares.The stock last traded at $4.41 and had previously closed at $4.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Robert W. Baird reissued a “neutral” rating and set a $4.40 price target on shares of Thoughtworks in a research report on Tuesday, August 6th. Piper Sandler raised their price objective on Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup cut their target price on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, The Goldman Sachs Group began coverage on Thoughtworks in a research report on Monday, June 24th. They issued a “sell” rating and a $2.50 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.18.

Thoughtworks Stock Performance

The company has a market cap of $1.42 billion, a PE ratio of -15.17 and a beta of 1.14. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39. The business’s fifty day moving average is $4.01 and its 200-day moving average is $3.12.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $251.70 million for the quarter, compared to the consensus estimate of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The company’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. As a group, research analysts predict that Thoughtworks Holding, Inc. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Thoughtworks

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Algert Global LLC bought a new stake in Thoughtworks during the 2nd quarter valued at approximately $33,000. AQR Capital Management LLC grew its stake in Thoughtworks by 404.4% during the second quarter. AQR Capital Management LLC now owns 152,790 shares of the company’s stock valued at $434,000 after acquiring an additional 122,500 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Thoughtworks by 25.6% in the 2nd quarter. Squarepoint Ops LLC now owns 256,435 shares of the company’s stock valued at $728,000 after acquiring an additional 52,257 shares during the last quarter. 272 Capital LP grew its holdings in shares of Thoughtworks by 29.4% in the second quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock valued at $4,043,000 after purchasing an additional 323,751 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Thoughtworks in the second quarter worth $167,000. 32.81% of the stock is 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.