Thoughtworks (NASDAQ:TWKS) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Thoughtworks (NASDAQ:TWKS) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued a sell rating and a $2.50 price objective on the stock.

A number of other analysts also recently weighed in on TWKS. William Blair restated a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler cut their price target on shares of Thoughtworks from $5.00 to $3.40 and set a neutral rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada decreased their price objective on shares of Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a report on Wednesday, February 28th. Citigroup increased their target price on shares of Thoughtworks from $2.50 to $3.25 and gave the company a neutral rating in a report on Wednesday, May 8th. Finally, Wedbush reissued an outperform rating and set a $6.00 price target on shares of Thoughtworks in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $4.59.

Thoughtworks Stock Down 6.9 %

Shares of NASDAQ:TWKS opened at $2.76 on Monday. The firm has a fifty day moving average price of $2.74 and a 200 day moving average price of $3.45. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $7.97. 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 stock has a market cap of $889.63 million, a P/E ratio of -9.50 and a beta of 1.07.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $248.59 million for the quarter, compared to analysts’ expectations of $242.77 million. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. Sell-side analysts predict that Thoughtworks will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Thoughtworks

A number of institutional investors and hedge funds have recently bought and sold shares of TWKS. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Thoughtworks during the third quarter valued at $49,000. MQS Management LLC purchased a new stake in shares of Thoughtworks during the third quarter worth about $64,000. B. Riley Asset Management LLC grew its holdings in shares of Thoughtworks by 80.6% during the third quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock worth $2,292,000 after buying an additional 250,785 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of Thoughtworks in the third quarter valued at approximately $287,000. Finally, Vanguard Group Inc. lifted its stake in shares of Thoughtworks by 5.4% during the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after buying an additional 564,141 shares during the period. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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.