Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $2.52

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.52, but opened at $3.20. Thoughtworks shares last traded at $3.07, with a volume of 2,275,980 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TWKS shares. Royal Bank of Canada dropped their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Citigroup reduced their price target on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Finally, Piper Sandler decreased their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.58.

Thoughtworks Trading Up 19.8 %

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 firm has a 50-day moving average of $2.48 and a 200 day moving average of $3.68. The stock has a market capitalization of $974.95 million, a price-to-earnings ratio of -11.45 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The business had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. As a group, equities analysts predict that Thoughtworks Holding, Inc. will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC acquired a new stake in shares of Thoughtworks in the first quarter worth $26,000. Duality Advisers LP acquired a new stake in Thoughtworks during the first quarter worth $36,000. Victory Capital Management Inc. bought a new stake in Thoughtworks in the third quarter valued at about $41,000. Jump Financial LLC bought a new position in shares of Thoughtworks during the 3rd quarter worth approximately $45,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Thoughtworks in the 3rd quarter valued at $49,000. Institutional investors own 32.81% of the company’s stock.

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.