Thoughtworks (NASDAQ:TWKS) Sees Unusually-High Trading Volume

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares saw strong trading volume on Monday . 1,051,471 shares traded hands during trading, a decline of 8% from the previous session’s volume of 1,137,369 shares.The stock last traded at $4.32 and had previously closed at $4.34.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of Thoughtworks in a research note on Wednesday, May 8th. 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. Piper Sandler upped their target price on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Citigroup reduced their target price on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.18.

Thoughtworks Trading Down 0.7 %

The company has a 50 day moving average of $3.02 and a 200 day moving average of $3.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 2.87. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -14.97 and a beta of 1.10.

Thoughtworks (NASDAQ:TWKS) last issued its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 5.74% and a negative net margin of 11.20%. The company had revenue of $251.70 million during the quarter, compared to analyst estimates of $251.37 million. During the same period last year, the business earned ($0.01) earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. On average, research analysts predict that Thoughtworks Holding, Inc. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Thoughtworks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its stake in shares of Thoughtworks by 20.5% in the 2nd quarter. Arizona State Retirement System now owns 31,622 shares of the company’s stock worth $90,000 after acquiring an additional 5,369 shares during the last quarter. Catalina Capital Group LLC grew its holdings in shares of Thoughtworks by 67.5% during the 2nd quarter. Catalina Capital Group LLC now owns 17,439 shares of the company’s stock worth $50,000 after purchasing an additional 7,026 shares during the period. Summit Creek Advisors LLC grew its holdings in shares of Thoughtworks by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after purchasing an additional 8,986 shares during the period. SG Americas Securities LLC grew its holdings in shares of Thoughtworks by 70.3% during the 4th quarter. SG Americas Securities LLC now owns 23,498 shares of the company’s stock worth $113,000 after purchasing an additional 9,698 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Thoughtworks by 49.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company’s stock worth $84,000 after purchasing an additional 9,793 shares during the period. 32.81% of the stock is owned by institutional investors and hedge funds.

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.