Thoughtworks (NASDAQ:TWKS) Posts Earnings Results

Thoughtworks (NASDAQ:TWKS) posted its quarterly earnings results on Monday. The company reported ($0.03) EPS for the quarter, Briefing.com reports. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. The business had revenue of $251.70 million for the quarter, compared to the consensus estimate of $251.37 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis.

Thoughtworks Stock Performance

Shares of NASDAQ:TWKS remained flat at $4.32 during midday trading on Wednesday. The stock had a trading volume of 319,281 shares, compared to its average volume of 1,116,758. The business’s 50 day simple moving average is $2.93 and its 200-day simple moving average is $3.09. The firm has a market cap of $1.39 billion, a PE ratio of -14.90 and a beta of 1.10. Thoughtworks has a 52 week low of $2.19 and a 52 week high of $5.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.87 and a quick ratio of 2.87.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TWKS. Baird R W lowered Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler upped their price objective on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a report on Tuesday. Citigroup cut their target price on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of Thoughtworks in a research note on Wednesday, May 8th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.44.

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.