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.
Summary
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Thoughtworks: Rating Downgrade As Execution Is Poorer Than Expected