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TWKS - Thoughtworks: Rating Downgrade As Execution Is Poorer Than Expected
Thoughtworks Holding Inc.
2024-03-14 03:11:09 ET
Summary
My rating has been downgraded from a buy to a neutral rating due to poor execution in 4Q23 and expected underperformance in FY24.
TWKS reported disappointing results in 4Q23, with revenue missing expectations and negative growth accelerating.
Thoughtworks' guidance for FY24 implies further growth pressure and potential market share loss, leading to concerns about weak execution and margin pressure.