Thoughtworks (NASDAQ:TWKS) PT Lowered to $11.00 at Citigroup

Thoughtworks (NASDAQ:TWKSGet Rating) had its price target trimmed by Citigroup from $19.00 to $11.00 in a research note published on Monday, The Fly reports. The brokerage currently has a buy rating on the stock.

TWKS has been the subject of several other research reports. Cowen dropped their price target on shares of Thoughtworks from $16.00 to $12.00 in a research report on Tuesday, November 15th. Robert W. Baird dropped their price target on shares of Thoughtworks from $18.00 to $14.00 in a research report on Tuesday, October 11th. Piper Sandler cut shares of Thoughtworks from an overweight rating to a neutral rating and dropped their price target for the company from $14.00 to $9.50 in a research report on Monday, November 14th. Cowen dropped their price target on shares of Thoughtworks from $16.00 to $12.00 in a research report on Tuesday, November 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Thoughtworks from $20.00 to $16.00 and set an overweight rating for the company in a research report on Friday, October 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $14.83.

Thoughtworks Price Performance

Shares of Thoughtworks stock opened at $7.91 on Monday. Thoughtworks has a 52-week low of $7.61 and a 52-week high of $30.99. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -15.21 and a beta of 0.98. The company has a fifty day moving average of $9.64 and a 200-day moving average of $13.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 2.64.

Thoughtworks (NASDAQ:TWKSGet Rating) last announced its quarterly earnings data on Monday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Thoughtworks had a negative net margin of 12.29% and a negative return on equity of 15.64%. The business had revenue of $332.40 million during the quarter, compared to analysts’ expectations of $327.52 million. During the same period last year, the company posted ($0.09) EPS. Thoughtworks’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts expect that Thoughtworks will post -0.17 EPS for the current year.

Insider Transactions at Thoughtworks

In related news, insider Sai Krishna Mandapaty sold 5,139 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $8.02, for a total value of $41,214.78. Following the completion of the transaction, the insider now directly owns 210,637 shares in the company, valued at approximately $1,689,308.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Sai Krishna Mandapaty sold 5,139 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $8.02, for a total value of $41,214.78. Following the completion of the transaction, the insider now directly owns 210,637 shares in the company, valued at approximately $1,689,308.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Gerard Murphy sold 14,479 shares of the stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total transaction of $171,141.78. Following the completion of the transaction, the chief executive officer now owns 383,519 shares of the company’s stock, valued at $4,533,194.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,860 shares of company stock valued at $748,963. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ronald Blue Trust Inc. increased its stake in Thoughtworks by 48.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 3,764 shares of the company’s stock valued at $53,000 after purchasing an additional 1,228 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Thoughtworks during the 1st quarter valued at about $31,000. Assetmark Inc. increased its stake in Thoughtworks by 548.4% during the 2nd quarter. Assetmark Inc. now owns 2,010 shares of the company’s stock valued at $28,000 after purchasing an additional 1,700 shares in the last quarter. Pendal Group Ltd increased its stake in Thoughtworks by 4.5% during the 2nd quarter. Pendal Group Ltd now owns 42,966 shares of the company’s stock valued at $606,000 after purchasing an additional 1,860 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Thoughtworks by 12.8% during the 3rd quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock valued at $188,000 after purchasing an additional 2,021 shares in the last quarter. 18.71% of the stock is currently owned by institutional investors.

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.

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