Piper Sandler raised the firm’s price target on Thoughtworks to $4.40 from $3.40 and keeps a Neutral rating on the shares. The firm notes Thoughtworks delivered in-line Q2 revenues and margins below expectations. Along with earnings, the company announced that it is being taken private. Piper is not surprised to see the announcement, as there have been numerous reports over the past year that APAX was considering regaining full control of Thoughtworks.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TWKS:
- Thoughtworks Holding Announces Strategic Merger and Nasdaq Delisting
- Thoughtworks provides update on restructuring activities
- Thoughtworks reports Q2 adjusted EPS (3c), consensus 0c
- Thoughtworks to be taken private by Apax Partners in $1.75B transaction
- Thoughtworks price target lowered to $2.75 from $3.25 at Citi