Thoughtworks (NASDAQ:TWKS) Announces Earnings Results

Thoughtworks (NASDAQ:TWKS) announced its earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, Briefing.com reports. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. The business had revenue of $251.70 million for the quarter, compared to analyst estimates of $251.37 million. During the same quarter last year, the company posted ($0.01) EPS. Thoughtworks’s quarterly revenue was down 12.4% on a year-over-year basis.

Thoughtworks Stock Performance

TWKS stock remained flat at $4.32 during trading on Wednesday. 319,281 shares of the company’s stock were exchanged, compared to its average volume of 1,116,758. The company has a fifty day moving average of $2.93 and a two-hundred day moving average of $3.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.87 and a quick ratio of 2.87. The firm has a market capitalization of $1.39 billion, a P/E ratio of -14.90 and a beta of 1.10. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $5.45.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of Thoughtworks in a research report on Wednesday, May 8th. Citigroup lowered their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research report on Friday, July 12th. The Goldman Sachs Group initiated coverage on Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 target price on the stock. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Thoughtworks presently has an average rating of “Hold” and an average price target of $4.44.

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.