Thoughtworks (NASDAQ:TWKS) PT Lowered to $2.75

Thoughtworks (NASDAQ:TWKS) had its target price reduced by Citigroup from $3.25 to $2.75 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 1.10% from the stock’s current price.

A number of other brokerages have also issued reports on TWKS. Wedbush reissued an “outperform” rating and set a $6.00 target price on shares of Thoughtworks in a research note on Wednesday, May 8th. Robert W. Baird lifted their target price on shares of Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group started coverage on shares of Thoughtworks in a report on Monday, June 24th. They issued a “sell” rating and a $2.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Thoughtworks has a consensus rating of “Hold” and a consensus price target of $4.52.

Thoughtworks Trading Up 2.6 %

Thoughtworks stock traded up $0.07 during midday trading on Friday, reaching $2.72. The stock had a trading volume of 195,224 shares, compared to its average volume of 773,220. The firm’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $3.28. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $7.97. 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 firm has a market cap of $878.33 million, a price-to-earnings ratio of -9.41 and a beta of 1.09.

Thoughtworks (NASDAQ:TWKS) last posted 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). Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. The firm had revenue of $248.59 million during the quarter, compared to analyst estimates of $242.77 million. Equities analysts anticipate that Thoughtworks will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC acquired a new position in Thoughtworks in the fourth quarter valued at about $37,411,000. LGT Capital Partners LTD. acquired a new position in Thoughtworks in the fourth quarter valued at about $4,233,000. Vanguard Group Inc. boosted its position in Thoughtworks by 5.4% in the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after buying an additional 564,141 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Thoughtworks in the third quarter valued at about $287,000. Finally, Mackenzie Financial Corp acquired a new position in Thoughtworks in the fourth quarter valued at about $245,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

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.