Robert W. Baird Boosts Thoughtworks (NASDAQ:TWKS) Price Target to $6.00

Thoughtworks (NASDAQ:TWKS) had its target price raised by research analysts at Robert W. Baird from $5.00 to $6.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 98.68% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on TWKS. William Blair restated a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Citigroup reduced their target price on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada lowered their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Finally, Piper Sandler lowered their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock 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 stock. According to MarketBeat, Thoughtworks presently has an average rating of “Hold” and an average target price of $4.58.

Thoughtworks Price Performance

NASDAQ:TWKS opened at $3.02 on Wednesday. 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 fifty day simple moving average of $2.48 and a 200 day simple moving average of $3.67. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $8.41. The stock has a market capitalization of $974.95 million, a PE ratio of -13.73 and a beta of 0.97.

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

Institutional Trading of Thoughtworks

Several large investors have recently modified their holdings of the stock. Catalina Capital Group LLC acquired a new position in shares of Thoughtworks in the 1st quarter valued at approximately $26,000. Duality Advisers LP acquired a new stake in shares of Thoughtworks in the 1st quarter valued at $36,000. Victory Capital Management Inc. acquired 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 in the third quarter worth about $45,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Thoughtworks during the 3rd quarter valued at approximately $49,000. 32.81% of the stock is owned by institutional investors and hedge funds.

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.