Log Out

Thoughtworks (NASDAQ:TWKS) Hits New 1-Year Low at $12.30

Financial News Live · Sep 19, 2022 12:03

Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $12.30 and last traded at $12.37, with a volume of 684 shares changing hands. The stock had previously closed at $12.46.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cowen dropped their target price on shares of Thoughtworks from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, August 16th. JPMorgan Chase & Co. dropped their price objective on shares of Thoughtworks from $22.00 to $20.00 in a research note on Wednesday, July 20th. Cowen dropped their price objective on shares of Thoughtworks from $21.00 to $20.00 in a research note on Tuesday, August 16th. Robert W. Baird dropped their price objective on shares of Thoughtworks from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, August 16th. Finally, Piper Sandler dropped their price objective on shares of Thoughtworks from $19.00 to $17.50 and set an "overweight" rating for the company in a research note on Tuesday, August 16th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.04.

Get Thoughtworks alerts:

Thoughtworks Price Performance

The stock has a market capitalization of $3.85 billion and a PE ratio of -23.96. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.66. The company's 50 day simple moving average is $14.51 and its 200 day simple moving average is $16.66.

Thoughtworks (NASDAQ:TWKS – Get Rating) last released its earnings results on Monday, August 15th. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $332.10 million during the quarter, compared to analysts' expectations of $328.09 million. Thoughtworks had a negative net margin of 12.27% and a negative return on equity of 16.86%. Thoughtworks's revenue was up 27.5% compared to the same quarter last year. On average, equities analysts anticipate that Thoughtworks Holding, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Thoughtworks

In other Thoughtworks news, insider Angela Ferguson sold 4,000 shares of Thoughtworks stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $14.36, for a total value of $57,440.00. Following the transaction, the insider now owns 148,893 shares in the company, valued at approximately $2,138,103.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $114,500 in the last quarter. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Thoughtworks

Hedge funds have recently made changes to their positions in the stock. Yarbrough Capital LLC acquired a new position in shares of Thoughtworks during the 1st quarter valued at $377,000. Pendal Group Ltd lifted its holdings in shares of Thoughtworks by 3.2% during the 1st quarter. Pendal Group Ltd now owns 41,106 shares of the company's stock valued at $855,000 after acquiring an additional 1,279 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Thoughtworks during the 1st quarter valued at $152,000. WCM Investment Management LLC lifted its holdings in shares of Thoughtworks by 10.8% during the 1st quarter. WCM Investment Management LLC now owns 663,386 shares of the company's stock valued at $13,805,000 after acquiring an additional 64,882 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new position in shares of Thoughtworks during the 1st quarter valued at $34,576,000. Institutional investors and hedge funds own 18.71% of the company's stock.

Thoughtworks Company Profile

(Get Rating)

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.