Thoughtworks (NASDAQ:TWKS) Stock Price Up 12%

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares were up 12% on Monday . The stock traded as high as $2.53 and last traded at $2.52. Approximately 763,774 shares changed hands during trading, an increase of 2% from the average daily volume of 749,200 shares. The stock had previously closed at $2.25.

Analyst Ratings Changes

Several equities analysts recently issued reports on TWKS shares. William Blair restated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Robert W. Baird lifted their price target on Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Thoughtworks in a research report on Wednesday. Royal Bank of Canada dropped their price target on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler lowered their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.94.

Thoughtworks Trading Up 1.7 %

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $991.09 million, a price-to-earnings ratio of -13.95 and a beta of 0.97. The business has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $3.67.

Thoughtworks (NASDAQ:TWKS) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The company had revenue of $252.39 million during the quarter, compared to analyst estimates of $268.34 million. On average, equities analysts predict that Thoughtworks Holding, Inc. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Thoughtworks

Institutional investors have recently added to or reduced their stakes in the company. LGT Capital Partners LTD. purchased a new stake in shares of Thoughtworks during the 4th quarter worth about $4,233,000. Vanguard Group Inc. grew its stake in Thoughtworks by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after buying an additional 564,141 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in Thoughtworks in the third quarter worth $287,000. Rathbones Group PLC acquired a new stake in Thoughtworks in the third quarter worth $1,078,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Thoughtworks in the third quarter valued at $49,000. 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.