Do Investors Have Much Faith In Thoughtworks Holding Inc. (NASDAQ: TWKS)

Thoughtworks Holding Inc. (NASDAQ:TWKS) does about 628.45K shares in volume on a normal day but saw 242492 shares change hands in Friday trading. The company now has a market cap of 3.14B USD. Its current market price is $9.79, marking a decrease of -3.17% compared to the previous close of $10.11. The 52 week high reached by this stock is $23.45 whilst the lowest price level in 52 weeks is $7.61. The script in recent trading has seen the stock touch a high of $10.12 and a low of $9.635.

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Thoughtworks Holding Inc. (TWKS) has a 20-day trading average at $10.67 and the current price is -58.25% off the 52-week high compared with 28.65% distance from its 52-week low. The 50-day simple moving average of the closing price is $10.36 and its 200-day simple moving average is $12.36. If we look at the stock’s price movements over the week, volatility stands at 3.32%, which increases to 3.36% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 38.25 to suggest the stock is neutral.

11 analysts observing the Thoughtworks Holding Inc. (TWKS) stock have set the 12-month price targets for the company’s shares at between $9.50 and $14.00. The consensus objective for the share price is $12.15, suggesting that the stock has a potential upside of 19.42% over the period. The median price target is 18.42% away from the current levels at $12.00.

FactSet Research has provided data showing that 11 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 5 analysts have rated it as a buy and 6 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.

Piper Sandler also downgraded the stock to “Neutral” from Overweight on November 14, 2022 at a price target of $14-$9.50. Goldman upgraded its price target at $34-$32.

The current price level is -8.71%, -5.44%, and -21.09% away from its SMA20, SMA50, and SMA200 respectively, with the TWKS price moving above the 50-day SMA on February 17. Thoughtworks Holding Inc. (TWKS) stock is down -5.96% over the week and -9.77% over the past month. Its price is -3.93% year-to-date and -57.77% over the past year.

The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.08 below consensus estimates by -$0.03. The company’s next earnings report is expected on 05/08/2023, with forecasts estimating quarterly EPS at $0.09 and $0.41 for whole year. TWKS’s earnings per share are forecast to shrink by -10.90% this year and 29.30% over next year. Expected sales for next quarter are $347.05 million, which analysts say will come at $1.29 billion for the current fiscal year and next year at $1.46 billion. In addition, estimates put the company’s current quarterly revenue at an average of $306.4 million.

Its 12-month price target is $12.00. To reach the target analysts have set, the stock logically needs to grow 19.42 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $9.50, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $14.00.

Outstanding shares total 311.62M with insiders holding 71.62% of the shares and institutional holders owning 25.83% of the company’s common stock. The company has a return on investment of 0.70% and return on equity of -21.40%. The forward price to earnings ratio is 18.54. Price to book ratio is 4.18 and price to sales ratio is 2.47.

According to a U.S. Securities and Exchange Commission filing, American Funds Small Cap World Fu has added its position in Thoughtworks Holding Inc. (TWKS) to 5,072,440 shares, mirroring a recent increase by 55.57%. American Funds Small Cap World Fu added 1.81 million shares of Thoughtworks Holding Inc. common stock bringing its total worth to about $54.78 million at the end of recent close, SEC documents show. American Funds Small Cap World Fu isn’t the only investment manager who changed stakes and is followed by MFS New Discovery Fund, which added 0.55 million shares to end up with 3,403,413 shares worth $36.76 million.

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