Thoughtworks (NASDAQ:TWKS) Given New $2.50 Price Target at Citigroup

Thoughtworks (NASDAQ:TWKS) had its price target lowered by Citigroup from $2.75 to $2.50 in a report issued on Monday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on TWKS. William Blair restated a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Robert W. Baird raised shares of Thoughtworks from a neutral rating to an outperform rating and set a $6.00 target price for the company in a report on Tuesday, January 2nd. 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 note on Wednesday, February 28th. Finally, Piper Sandler dropped their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research note on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $4.58.

Thoughtworks Stock Performance

Shares of NASDAQ TWKS opened at $2.38 on Monday. The firm’s 50-day moving average price is $2.81 and its 200-day moving average price is $3.77. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.37. The company has a market cap of $768.34 million, a PE ratio of -10.82 and a beta of 0.99. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $8.41.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly 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 company had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. As a group, analysts anticipate that Thoughtworks will post -0.04 EPS for the current year.

Institutional Trading of Thoughtworks

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Thoughtworks in the third quarter valued at about $56,000. Harbor Capital Advisors Inc. grew its stake in shares of Thoughtworks by 83.8% during the third quarter. Harbor Capital Advisors Inc. now owns 110,612 shares of the company’s stock worth $451,000 after acquiring an additional 50,445 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Thoughtworks by 31.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company’s stock worth $80,000 after acquiring an additional 4,681 shares during the last quarter. Summit Creek Advisors LLC grew its stake in shares of Thoughtworks by 18.7% during the third quarter. Summit Creek Advisors LLC now owns 1,081,951 shares of the company’s stock worth $4,414,000 after acquiring an additional 170,703 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Thoughtworks in the third quarter valued at approximately $41,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

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.