Thoughtworks Holding, Inc. provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. Its consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses. The company offers enterprise modernization, platforms, and cloud services, including modernization strategy and execution, digital platform strategy and engineering organization transformation, cloud modernization, cloud-native application support and evolution, and platform assessment and remediation; and customer experience, product, and design services comprising idea to market, customer experience strategy, product management transformation, and product design and delivery. It also provides data and artificial intelligence services, such as data strategy, intelligent products, data platforms and data mesh, CD4ML, and data governance; and digital transformation and operations services, which include delivery transformation, digital fluency, organization transformation, value-driven portfolio management, technology strategy, executive advisory, and digital foundations training. The company serves its clients in various industry verticals, including technology and business services; energy, public, and health services; retail and consumer; financial services and insurance; and automotive, travel, and transportation. Thoughtworks Holding, Inc. was founded in 1993 and is headquartered in Chicago, Illinois.
IPO Year: 2021
Exchange: NASDAQ
Website: thoughtworks.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/24/2024 | $2.50 | Sell | Goldman |
| 2/28/2024 | Outperform → Mkt Perform | William Blair | |
| 1/2/2024 | $6.00 | Neutral → Outperform | Robert W. Baird |
| 10/17/2023 | Outperform → Peer Perform | Wolfe Research | |
| 8/10/2023 | $9.00 → $6.00 | Outperform → Market Perform | TD Cowen |
| 8/9/2023 | $10.00 → $6.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 1/17/2023 | Buy → Neutral | Citigroup | |
| 11/14/2022 | $14.00 → $9.50 | Overweight → Neutral | Piper Sandler |
| 3/2/2022 | $36.00 → $30.00 | Buy | Citigroup |
| 3/2/2022 | $36.00 → $31.00 | Outperform | RBC Capital |
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Thoughtworks Holding, Inc. (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, announced today that Guo Xiao is stepping down from the role of Chief Executive Officer and Director. The Board of Directors has selected Mike Sutcliff to succeed Guo Xiao as Chief Executive Officer and Director. The changes will be effective June 17, 2024, and Guo Xiao will remain as an advisor to Thoughtworks to support the transition. "On behalf of the Board, I would like to thank Xiao for his enormous contribution to Thoughtworks. His leadership has been foundational in developing Thoughtworks as an industry leader and home to the world's best technologists," sai
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, today announced the appointment of Mike Mason as Chief Artificial Intelligence (AI) Officer. Mason will report to Thoughtworks' Chief Technology Officer, Rachel Laycock. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230607005379/en/As Chief AI Officer, Mason will guide clients through their generative AI journeys and accelerate their adoption of this new technology. (Photo: Business Wire) In this new global role, Mason will guide clients through their generative AI journeys and accelerate their adoption of this new tech
Third quarter revenues of $261.4 million Thoughtworks Holding, Inc. (NASDAQ:TWKS) ("Thoughtworks" or the "Company"), a leading global technology consultancy, today reported results for the third quarter of 2024. Acquisition Update As announced on August 5, 2024, Thoughtworks has entered into a definitive merger agreement to be acquired by affiliates of certain investment funds advised by Apax Partners LLP for $4.40 per share (the "Merger"). In connection with the Merger, Thoughtworks has filed a definitive Information Statement with the Securities and Exchange Commission on October 21, 2024. A copy of the Information Statement can be found by visiting the Investor Relations section
Second quarter revenues of $251.7 million Thoughtworks signed definitive merger agreement to be taken private by an affiliate of funds advised by Apax Partners LLP Thoughtworks Holding, Inc. (NASDAQ:TWKS) ("Thoughtworks" or the "Company"), a leading global technology consultancy, today reported results for the second quarter of 2024. Acquisition Update As announced a short time ago, Thoughtworks has entered into a definitive merger agreement to be acquired by an affiliate of funds advised by Apax Partners LLP for $4.40 per share. A copy of the press release can be found by visiting the Investor Relations section of the Thoughtworks corporate website at thoughtworks.com. In light
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, will report financial results for the second quarter of 2024 on Tuesday, August 6, 2024 before market open. Following the release of results, Thoughtworks will host a conference call at 8:00 a.m. ET to discuss its financial results with the investment community. A live webcast of the call will be available at https://investors.thoughtworks.com. The archived webcast and transcript will be available on the investor relations section of the Thoughtworks website. Supporting resources: Keep up with Thoughtworks news by visiting the company's website.
First quarter revenues of $248.6 million Raises full year revenue guidance and reiterates full year Adjusted EBITDA Margin guidance Provides guidance for second quarter of 2024 Thoughtworks Holding, Inc. (NASDAQ:TWKS) ("Thoughtworks" or the "Company"), a leading global technology consultancy, today reported results for the first quarter of 2024 and provided an updated financial outlook for the full year and second quarter of 2024. Guo Xiao, Thoughtworks' Chief Executive Officer, said, "I would like to thank Thoughtworkers worldwide who work tirelessly to deliver extraordinary impact for our clients. We delivered revenues of $248.6 million in the first quarter, which exceeded o
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, is pleased to announce the successful acquisition of the talented individuals and technology assets from Watchful, a San Francisco headquartered company who helps organizations accelerate the creation, enhancement and deployment of AI models. This acquisition is a cornerstone in Thoughtworks' strategy to become the leading AI transformation partner globally. Thoughtworks has acquired a team of seven highly skilled professionals from Watchful, including the co-founders Shayan Mohanty and John Singleton. These individuals bring a wealth of AI and data expertise in addition to cutt
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, will report financial results for the first quarter of 2024 on Tuesday, May 7, 2024 before market open. Following the release of results, Thoughtworks will host a conference call at 8:00 a.m. ET to discuss its financial results with the investment community. A live webcast of the call will be available at https://investors.thoughtworks.com. The archived webcast and transcript will be available on the investor relations section of the Thoughtworks website. Supporting resources: Keep up with Thoughtworks news by visiting the company's website.
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, will report financial results for the fourth quarter and full year 2023 on Tuesday, February 27, 2024 before market open. Following the release of results, Thoughtworks will host a conference call at 8:00 a.m. ET to discuss its financial results with the investment community. A live webcast of the call will be available at https://investors.thoughtworks.com. The archived webcast and transcript will be available on the investor relations section of the Thoughtworks website. Supporting resources: Keep up with Thoughtworks news by visiting the compa
Third quarter revenues of $280.2 million Provides updated guidance for the full year and fourth quarter of 2023 Thoughtworks Holding, Inc. (NASDAQ:TWKS) ("Thoughtworks" or the "Company"), a leading global technology consultancy, today reported results for the third quarter of 2023 and provided an updated financial outlook for the full year and fourth quarter of 2023. Guo Xiao, Thoughtworks' Chief Executive Officer, said, "We delivered revenues of $280.2 million in the third quarter of 2023. We are seeing more stability in the demand environment and new logo acquisition continues to be a strength, with 34 new clients in the quarter. Our restructuring program is moving at pace. In th
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, will report financial results for the third quarter of 2023 on Tuesday, November 7, 2023 before market open. Following the release of results, Thoughtworks will host a conference call at 8:00 a.m. ET to discuss its financial results with the investment community. A live webcast of the call will be available at https://investors.thoughtworks.com. The archived webcast and transcript will be available on the investor relations section of the Thoughtworks website. Supporting resources: Keep up with Thoughtworks news by visiting the company's website.
Second quarter revenues of $287.2 million Announces restructuring actions targeting $75-85 million in annualized cost savings upon completion Provides updated guidance for the full year and third quarter of 2023 Thoughtworks Holding, Inc. (NASDAQ:TWKS) ("Thoughtworks" or the "Company"), a leading global technology consultancy, today reported results for the second quarter of 2023 and provided an updated financial outlook for the full year and third quarter of 2023. Guo Xiao, Thoughtworks' Chief Executive Officer, said, "We delivered revenues of $287.2 million in the second quarter of 2023. This fell short of our guidance as the macro-related factors that we have discussed in rec
Goldman initiated coverage of Thoughtworks with a rating of Sell and set a new price target of $2.50
William Blair downgraded Thoughtworks from Outperform to Mkt Perform
Robert W. Baird upgraded Thoughtworks from Neutral to Outperform and set a new price target of $6.00
Wolfe Research downgraded Thoughtworks from Outperform to Peer Perform
TD Cowen downgraded Thoughtworks from Outperform to Market Perform and set a new price target of $6.00 from $9.00 previously
RBC Capital Mkts downgraded Thoughtworks from Outperform to Sector Perform and set a new price target of $6.00 from $10.00 previously
Citigroup downgraded Thoughtworks from Buy to Neutral
Piper Sandler downgraded Thoughtworks from Overweight to Neutral and set a new price target of $9.50 from $14.00 previously
Citigroup reiterated coverage of Thoughtworks Holding with a rating of Buy and set a new price target of $30.00 from $36.00 previously
RBC Capital reiterated coverage of Thoughtworks Holding with a rating of Outperform and set a new price target of $31.00 from $36.00 previously
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, today announced the completion of its acquisition by affiliates of certain investment funds advised by Apax Partners LLP ("Apax Funds"). The transaction, valued at approximately $1.75 billion, takes Thoughtworks private. Under the terms of the agreement, Thoughtworks' stockholders will receive $4.40 per share in cash, a 48% premium over the volume-weighted average price of Thoughtworks stock for the 30 days ending August 2, 2024, the last full trading day prior to the transaction announcement. With the transaction's completion, Thoughtworks' shares will no longer be publicly tra
Third quarter revenues of $261.4 million Thoughtworks Holding, Inc. (NASDAQ:TWKS) ("Thoughtworks" or the "Company"), a leading global technology consultancy, today reported results for the third quarter of 2024. Acquisition Update As announced on August 5, 2024, Thoughtworks has entered into a definitive merger agreement to be acquired by affiliates of certain investment funds advised by Apax Partners LLP for $4.40 per share (the "Merger"). In connection with the Merger, Thoughtworks has filed a definitive Information Statement with the Securities and Exchange Commission on October 21, 2024. A copy of the Information Statement can be found by visiting the Investor Relations section
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today released volume 31 of the Technology Radar, a biannual report informed by Thoughtworks' observations, conversations and frontline experiences solving its clients' most complex business challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241023294155/en/ This volume spotlights the proliferation of generative AI tools, platforms and frameworks that are emerging to help developers build them not only more effectively but also more responsibly. Being able to control the ‘context window
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, today announced it was positioned in the Visionaries Quadrant in the 2024 GartnerⓇ Magic Quadrant™ for Custom Software Development Services, Worldwide. Thoughtworks has connected strategy to execution, using cross-functional teams of strategists, designers, software engineers, data scientists and other specialists to deliver value to over 300 current clients, including global enterprises and technology disruptors, at scale. Consistently pioneering technology-driven business change, Thoughtworks helps solve clients' most complex problems in cloud, platforms, data and analytics, AI a
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, announces a pioneering collaboration with Swann to develop SwannShield™ – an innovative AI-powered home security voice assistant. A leading global provider of security monitoring, consumer electronics and security-centric solutions, Swann empowers people to protect and stay connected to their home or business no matter where life takes them. Swann's vision was to develop an AI-driven solution compatible with its video doorbells, cameras and devices, that engages with visitors in real-time across different scenarios, from package deliveries and identifying guests to deterring potent
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, today announced a strategic collaboration with AI Singapore (AISG) to drive innovation to help make GenAI reliable through developing novel methods, tools and best practices that meaningfully evaluate GenAI applications. The unique challenges of GenAI, stemming from its reliance on massive datasets and complex algorithms, pose a significant threat to its widespread adoption. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241003403552/en/From left: Richard Goh, head of Singapore Public Sector Business Development and Cloud
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, joined Australian Payments Plus (AP+), Australia's domestic payments organization operating the BPAY, eftpos and NPP payment schemes), to develop new customer experience (CX) industry guidelines for PayTo. PayTo is the latest innovation from AP+, providing a fast and secure way to move funds between bank accounts instantly. PayTo can be used for everyday transactions such as utility bills, flight bookings, subscriptions and digital wallet top-ups. This is the third time Thoughtworks has partnered with AP+ to bring together CX guidelines. This partnership furthers AP+'s efforts to
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, has started a strategic partnership with UK-based cybersecurity startup Advanced Cyber Defence Systems (ACDS) by providing Thoughtworks DAMO™ AI-powered application managed services. Thoughtworks has been engaged to assess and advise on how to best advance the digital capabilities of ACDS' product offerings, particularly in the Continuous Threat & Exposure Management (CTEM) and Attack Surface Management (ASM) spaces, and evolve and transform its offerings to help enterprises proactively get ahead of attackers to mitigate cyber exposures. The partnership
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, today announced partnering with ConnectingYouNow (CYN), a U.K.-based digital technology company, to help enterprises drive greater operational efficiency with automation and optimization to increase customer satisfaction and reduce costs across the technology portfolio. The joint offering is part of Thoughtworks' AI-powered DAMO™ Managed Services and is unique because it provides intuitive tools for intelligent automation and predictive analytics by integrating CYN's highly secure Enterprise AI Hub. The Thoughtworks and CYN AI-powered solution offering provides the real-time insigh
Thoughtworks (NASDAQ:TWKS), a global technology consultancy that integrates strategy, design and engineering, has been named a winner of a 2024 CSO Award from Foundry's CSO for the second consecutive year. This prestigious honor is bestowed upon a select group of organizations that have implemented security projects and initiatives demonstrating outstanding business value and thought leadership. "The stakes grow higher every day for security leaders and their teams, and this year's CSO Awards honor the very best efforts to tackle challenges from an expanding threat landscape," said Beth Kormanik, content director for the CSO Conference & Awards. "From devising new threat detection methods
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