Thoughtworks (NASDAQ:TWKS) Issues FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.02 to $0.08 for the period, compared to the consensus EPS estimate of $0.05. The company issued revenue guidance of $995 million to $1.02 billion from $980 million to $1.01 billion, compared to the consensus revenue estimate of $987.87 million. Thoughtworks also updated its Q2 guidance to ($0.01) to $0.01 EPS.

Thoughtworks Price Performance

Shares of Thoughtworks stock traded down $0.09 on Thursday, hitting $2.98. The company had a trading volume of 437,570 shares, compared to its average volume of 806,471. The business has a 50-day simple moving average of $2.47 and a 200-day simple moving average of $3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The company has a market cap of $962.03 million, a PE ratio of -13.95 and a beta of 0.97. Thoughtworks has a 52 week low of $2.19 and a 52 week high of $8.31.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The company had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. Research analysts expect that Thoughtworks will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TWKS shares. William Blair reissued a market perform rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Wedbush reaffirmed an outperform rating and issued a $6.00 target price on shares of Thoughtworks in a research report on Wednesday. Piper Sandler dropped their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a report on Tuesday, February 27th. Citigroup upped their price objective on shares of Thoughtworks from $2.50 to $3.25 and gave the stock a neutral rating in a research note on Wednesday. Finally, Royal Bank of Canada decreased their target price on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $4.94.

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.