Thoughtworks (NASDAQ:TWKS) Announces Quarterly Earnings Results

Thoughtworks (NASDAQ:TWKS) released its quarterly earnings results on Monday. The company reported ($0.03) earnings per share (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 firm had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $251.37 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. Thoughtworks’s revenue for the quarter was down 12.4% compared to the same quarter last year.

Thoughtworks Stock Performance

Thoughtworks stock traded up $0.02 during midday trading on Wednesday, hitting $4.34. 1,020,519 shares of the company were exchanged, compared to its average volume of 1,121,550. Thoughtworks has a fifty-two week low of $2.19 and a fifty-two week high of $5.45. The firm has a market capitalization of $1.40 billion, a PE ratio of -14.90 and a beta of 1.10. The business has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $3.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TWKS shares. Citigroup dropped their price target on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Baird R W lowered shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of Thoughtworks in a report on Wednesday, May 8th. Robert W. Baird restated a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a research note on Tuesday. Finally, The Goldman Sachs Group assumed coverage on Thoughtworks in a research note on Monday, June 24th. They set a “sell” rating and a $2.50 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Thoughtworks has an average rating of “Hold” and an average target price of $4.44.

About Thoughtworks

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.