Thoughtworks Analysts Cut Their Forecasts After Weak Q2 Results
Portfolio Pulse from Lisa Levin
Thoughtworks Holding, Inc. (NASDAQ:TWKS) reported lower than expected Q2 results and issued Q3 guidance below estimates. The company's shares dipped 25.8% to close at $5.21 on Tuesday. Analysts from RBC Capital, Citigroup, and Piper Sandler have cut their price targets on Thoughtworks following the earnings announcement.
August 09, 2023 | 11:58 am
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Thoughtworks reported disappointing Q2 results and lowered Q3 guidance, leading to a drop in share price and analysts cutting their price targets.
Thoughtworks reported lower than expected Q2 earnings and issued Q3 guidance below estimates. This has led to a significant drop in the company's share price and analysts from RBC Capital, Citigroup, and Piper Sandler have cut their price targets on the company. This negative news is likely to put downward pressure on the stock in the short term.
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