Thoughtworks (NASDAQ:TWKS) Shares Gap Up to $3.39

Thoughtworks Holding, Inc. (NASDAQ:TWKS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $3.39, but opened at $4.27. Thoughtworks shares last traded at $4.26, with a volume of 11,211,444 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Thoughtworks in a research note on Tuesday. The Goldman Sachs Group assumed coverage on Thoughtworks in a research note on Monday, June 24th. They set a “sell” rating and a $2.50 target price for the company. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Thoughtworks in a research note on Wednesday, May 8th. Citigroup lowered their price target on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Piper Sandler upped their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.44.

Thoughtworks Stock Down 0.2 %

The company has a market cap of $1.39 billion, a P/E ratio of -14.90 and a beta of 1.10. The stock’s 50-day moving average price is $2.93 and its 200-day moving average price is $3.09. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter. Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. The business had revenue of $251.70 million during the quarter, compared to the consensus estimate of $251.37 million. During the same period in the previous year, the business posted ($0.01) EPS. Thoughtworks’s revenue was down 12.4% compared to the same quarter last year. As a group, research analysts forecast that Thoughtworks Holding, Inc. will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Thoughtworks

Large investors have recently modified their holdings of the stock. Mubadala Investment Co PJSC purchased a new stake in shares of Thoughtworks during the 4th quarter worth approximately $37,411,000. Vanguard Group Inc. increased its stake in shares of Thoughtworks by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after purchasing an additional 564,141 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Thoughtworks by 1,094.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock worth $1,228,000 after purchasing an additional 444,712 shares during the last quarter. Duality Advisers LP purchased a new position in Thoughtworks in the 1st quarter valued at approximately $36,000. Finally, Quadrature Capital Ltd purchased a new position in Thoughtworks in the 1st quarter valued at approximately $210,000. Hedge funds and other 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.