Thoughtworks (NASDAQ:TWKS) Issues FY24 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.02 to $0.08 for the period, compared to the consensus EPS 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 Trading Down 2.9 %

Shares of NASDAQ:TWKS traded down $0.09 during mid-day trading on Thursday, reaching $2.98. The stock had a trading volume of 437,570 shares, compared to its average volume of 806,471. 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 market cap of $962.03 million, a PE ratio of -13.95 and a beta of 0.97. The firm has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $3.67. Thoughtworks has a twelve month low of $2.19 and a twelve month high of $8.31.

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

Analysts Set New Price Targets

A number of research firms have commented on TWKS. Piper Sandler reduced their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a research report on Tuesday, February 27th. Royal Bank of Canada lowered their target price on Thoughtworks from $6.00 to $5.00 and set a sector perform rating for the company in a research note on Wednesday, February 28th. Robert W. Baird boosted their target price on Thoughtworks from $5.00 to $6.00 and gave the stock an outperform rating in a research note on Wednesday. William Blair restated a market perform rating on shares of Thoughtworks in a report on Wednesday, February 28th. Finally, Citigroup upped their price target on shares of Thoughtworks from $2.50 to $3.25 and gave the company a neutral rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $4.94.

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.