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

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

TWKS has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of Thoughtworks in a research report on Wednesday, May 8th. Citigroup lifted their price objective on Thoughtworks from $2.50 to $3.25 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Robert W. Baird lifted their price objective on Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group began coverage on Thoughtworks in a research report on Monday. They set a “sell” rating and a $2.50 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Thoughtworks currently has an average rating of “Hold” and a consensus target price of $4.59.

Thoughtworks Stock Performance

The stock has a 50 day simple moving average of $2.77 and a 200 day simple moving average of $3.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Catalina Capital Group LLC acquired a new position in shares of Thoughtworks in the first quarter worth about $26,000. Duality Advisers LP acquired a new position in shares of Thoughtworks in the first quarter worth about $36,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Thoughtworks in the third quarter worth about $49,000. MQS Management LLC acquired a new position in shares of Thoughtworks in the third quarter worth about $64,000. Finally, Pitcairn Co. acquired a new position in shares of Thoughtworks in the first quarter worth about $102,000. Institutional investors and hedge funds 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.