Citi lowered the firm’s price target on Thoughtworks to $2.75 from $5 and keeps a Neutral rating on the shares. The analyst says the company’s Q4 results “disappointed across the board.” The combination of macro and premium positioning continues to negatively impact even as Thoughtworks has moved to cut costs and add lower-cost delivery, ,the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TWKS:
- Apollo Global upgraded, Dell initiated: Wall Street’s top analyst calls
- William Blair downgrades Thoughtworks on operational challenges
- Thoughtworks price target lowered to $5 from $6 at Baird
- Thoughtworks downgraded to Market Perform from Outperform at William Blair
- Thoughtworks sees FY24 adjusted EPS 1c-6c, consensus 22c