Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares saw unusually-high trading volume on Monday . Approximately 1,556,017 shares traded hands during trading, an increase of 13% from the previous session’s volume of 1,374,349 shares.The stock last traded at $4.39 and had previously closed at $4.40.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TWKS. Robert W. Baird reissued a “neutral” rating and issued a $4.40 price objective on shares of Thoughtworks in a research note on Tuesday, August 6th. Citigroup dropped their price target 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. Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group assumed coverage on Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 price objective for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.18.

Thoughtworks Trading Down 0.2 %

The business’s 50-day moving average is $3.83 and its two-hundred day moving average is $3.06. The stock has a market capitalization of $1.42 billion, a PE ratio of -15.17 and a beta of 1.14. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter. The business had revenue of $251.70 million during the quarter, compared to analyst estimates of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. On average, analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thoughtworks

Hedge funds have recently made changes to their positions in the business. Mubadala Investment Co PJSC acquired a new position in Thoughtworks in the 4th quarter valued at about $37,411,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Thoughtworks by 1,094.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock worth $1,228,000 after purchasing an additional 444,712 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Thoughtworks by 1.0% during the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after purchasing an additional 112,782 shares during the period. Duality Advisers LP purchased a new position in Thoughtworks in the 1st quarter valued at $36,000. Finally, Quadrature Capital Ltd acquired a new position in Thoughtworks in the 1st quarter valued at $210,000. Institutional investors and hedge funds 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.