Thoughtworks (NASDAQ:TWKS) Releases FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.02 to $0.08 for the period, compared to the consensus estimate of $0.05. The company issued revenue guidance of $995 million to $1.02 billion from $980 million to $1.01 billion, compared to the consensus revenue estimate of $987.87 million. Thoughtworks also updated its Q2 guidance to ($0.01) to $0.01 EPS.

Thoughtworks Stock Up 1.7 %

TWKS traded up $0.05 during trading on Wednesday, reaching $3.07. The company had a trading volume of 867,778 shares, compared to its average volume of 807,761. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $8.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The business’s fifty day moving average price is $2.48 and its 200 day moving average price is $3.67. The company has a market cap of $991.09 million, a P/E ratio of -14.14 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. The firm had revenue of $252.39 million during the quarter, compared to the consensus estimate of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. Equities analysts anticipate that Thoughtworks will post -0.04 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TWKS. William Blair reissued a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Wedbush reiterated an outperform rating and issued a $6.00 target price on shares of Thoughtworks in a research note on Wednesday. Robert W. Baird boosted their price target on Thoughtworks from $5.00 to $6.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Piper Sandler cut their price objective 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Thoughtworks has a consensus rating of Hold and an average price target of $4.82.

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.