Thoughtworks (NASDAQ:TWKS) Issues Q2 Earnings Guidance

Thoughtworks (NASDAQ:TWKS) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of ($0.01) to $0.01 for the period, compared to the consensus EPS estimate of $0.01. The company issued revenue guidance of $250 million to $255 million, compared to the consensus revenue estimate of $242.68 million. Thoughtworks also updated its FY24 guidance to $0.02 to $0.08 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TWKS. William Blair reissued a market perform rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Wedbush reissued an outperform rating and issued a $6.00 price objective on shares of Thoughtworks in a research note on Wednesday. Royal Bank of Canada dropped their target price on Thoughtworks from $6.00 to $5.00 and set a sector perform rating on the stock in a research report on Wednesday, February 28th. Piper Sandler dropped their target price on Thoughtworks from $5.00 to $3.40 and set a neutral rating on the stock in a research report on Tuesday, February 27th. Finally, Citigroup raised their price objective on Thoughtworks from $2.50 to $3.25 and gave the stock a neutral rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $4.94.

Thoughtworks Stock Down 2.9 %

Shares of Thoughtworks stock traded down $0.09 during trading hours on Thursday, reaching $2.98. 437,570 shares of the company were exchanged, compared to its average volume of 806,471. Thoughtworks has a 1 year low of $2.19 and a 1 year high of $8.31. The stock’s fifty day moving average is $2.47 and its 200 day moving average is $3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a market cap of $962.03 million, a PE ratio of -13.95 and a beta of 0.97.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The business had revenue of $252.39 million during the quarter, compared to analysts’ expectations of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. As a group, equities research analysts forecast that Thoughtworks will post -0.04 earnings per share for the current year.

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.