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Wall Street analysts expect Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) to report $328.51 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Thoughtworks’ earnings, with the lowest sales estimate coming in at $328.10 million and the highest estimate coming in at $328.72 million. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Thoughtworks will report full-year sales of $1.37 billion for the current year, with estimates ranging from $1.36 billion to $1.37 billion. For the next financial year, analysts anticipate that the company will post sales of $1.66 billion, with estimates ranging from $1.63 billion to $1.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Thoughtworks.
Thoughtworks (NASDAQ:TWKS – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $320.90 million for the quarter, compared to the consensus estimate of $304.25 million. Thoughtworks had a negative return on equity of 22.60% and a negative net margin of 8.85%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year.
Several analysts have recently commented on the company. Piper Sandler reduced their target price on Thoughtworks from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. Royal Bank of Canada cut their price target on Thoughtworks from $31.00 to $25.00 in a research note on Tuesday, May 10th. Robert W. Baird cut their price target on Thoughtworks from $30.00 to $25.00 in a research note on Thursday, April 14th. Citigroup cut their price target on Thoughtworks from $30.00 to $24.00 in a research note on Tuesday, May 10th. Finally, Zacks Investment Research downgraded Thoughtworks from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $28.33.
Shares of NASDAQ:TWKS opened at $15.77 on Friday. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.67. Thoughtworks has a 12-month low of $14.41 and a 12-month high of $34.43. The business has a fifty day simple moving average of $19.30 and a 200 day simple moving average of $23.10.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Thoughtworks by 11.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,276,105 shares of the company’s stock worth $193,036,000 after purchasing an additional 952,009 shares during the last quarter. BlackRock Inc. lifted its stake in Thoughtworks by 59.9% in the first quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after purchasing an additional 1,769,406 shares during the last quarter. Vanguard Group Inc. lifted its stake in Thoughtworks by 3.1% in the first quarter. Vanguard Group Inc. now owns 2,772,285 shares of the company’s stock worth $57,692,000 after purchasing an additional 82,809 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in Thoughtworks by 20.5% in the first quarter. Ensign Peak Advisors Inc now owns 2,173,598 shares of the company’s stock worth $45,233,000 after purchasing an additional 369,085 shares during the last quarter. Finally, GW&K Investment Management LLC bought a new stake in Thoughtworks in the first quarter worth $34,576,000. Hedge funds and other institutional investors own 17.02% 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.
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