Fri Sep 20 06:35:22 UTC 2024: ## Thoughtworks Holding (TWKS) Remains a “Hold” for Analysts Despite Recent Earnings

**New York, NY (September 20, 2024)** – Thoughtworks Holding, Inc. (NASDAQ:TWKS), a technology consultancy firm, has received a consensus rating of “Hold” from ten analysts covering the stock, according to MarketBeat Ratings. This rating is based on one “Sell”, eight “Hold”, and one “Buy” recommendation.

While the average 1-year price target among analysts is $4.18, recent reports have shown a mixed outlook for the company. Baird R W downgraded Thoughtworks from “Strong-Buy” to “Hold”, while Piper Sandler raised their price target from $3.40 to $4.40. Goldman Sachs, on the other hand, initiated coverage with a “Sell” rating and a $2.50 price target.

Thoughtworks reported earnings for the quarter ending August 5th, showing a loss of $0.03 per share on revenue of $251.70 million. While this revenue slightly exceeded analyst expectations, it was a 12.4% decrease compared to the same period last year. Analysts are currently expecting a loss of -$0.02 EPS for the full year.

Several institutional investors have recently adjusted their holdings in Thoughtworks. Arizona State Retirement System, Catalina Capital Group LLC, Summit Creek Advisors LLC, and Zurcher Kantonalbank Zurich Cantonalbank all increased their positions, while Algert Global LLC initiated a new position. Institutional ownership currently stands at 32.81% of the company’s stock.

Thoughtworks provides technology consultancy services globally, focusing on helping companies adapt to a modern digital landscape. The company’s services cover strategy, design, and software engineering.

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