Thoughtworks (NASDAQ:TWKS) Stock Price Down 6%

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares fell 6% on Monday . The company traded as low as $2.67 and last traded at $2.67. 260,074 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 784,725 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

TWKS has been the topic of several recent research reports. Citigroup boosted their target price on Thoughtworks from $2.50 to $3.25 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of Thoughtworks in a report on Wednesday, May 8th. Robert W. Baird lifted their price target on Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group started coverage on shares of Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.59.

Thoughtworks Trading Down 6.7 %

The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $2.78 and a 200 day moving average price of $3.40.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. The company had revenue of $248.59 million during the quarter, compared to analyst estimates of $242.77 million. Equities analysts forecast that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Thoughtworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC purchased a new stake in shares of Thoughtworks in the 4th quarter valued at $37,411,000. LGT Capital Partners LTD. acquired a new stake in shares of Thoughtworks during the fourth quarter worth about $4,233,000. Vanguard Group Inc. boosted its stake in shares of Thoughtworks by 5.4% in the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after purchasing an additional 564,141 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Thoughtworks in the third quarter valued at approximately $287,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Thoughtworks during the 3rd quarter worth approximately $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.