Twilio Inc. (NYSE:TWLO) Upgraded to “Buy” by Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group upgraded shares of Twilio Inc. (NYSE:TWLO) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat reports. The brokerage currently has $35.00 price target on the technology company’s stock, up from their previous price target of $23.00.
A number of other brokerages have also commented on TWLO. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $38.00 price objective on shares of Twilio in a research report on Tuesday, May 2nd. Drexel Hamilton restated a buy rating and set a $50.00 price objective on shares of Twilio in a research report on Tuesday, May 2nd. Summit Redstone decreased their price objective on Twilio from $36.00 to $28.00 and set a buy rating for the company in a research report on Wednesday, May 3rd. William Blair restated an outperform rating on shares of Twilio in a research report on Wednesday, May 3rd. Finally, Vetr lowered Twilio from a buy rating to a hold rating and set a $34.70 price objective for the company. in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $37.25.
Twilio (NYSE TWLO) opened at 31.38 on Tuesday. The firm’s market cap is $2.85 billion. The stock’s 50 day moving average is $29.93 and its 200-day moving average is $29.14. Twilio has a 1-year low of $22.80 and a 1-year high of $70.96.
Twilio (NYSE:TWLO) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.20) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.20). Twilio had a negative return on equity of 15.99% and a negative net margin of 13.42%. The business had revenue of $95.90 million during the quarter, compared to analyst estimates of $86.28 million. During the same quarter last year, the company posted ($0.08) EPS. Twilio’s revenue for the quarter was up 48.7% on a year-over-year basis. Analysts forecast that Twilio will post ($0.23) EPS for the current year.
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In related news, General Counsel Karyn Smith sold 5,213 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $24.59, for a total value of $128,187.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lee Kirkpatrick sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $29.86, for a total value of $477,760.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,870 shares of company stock valued at $1,296,550.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Twilio by 19.8% in the second quarter. FMR LLC now owns 9,259,375 shares of the technology company’s stock worth $269,541,000 after buying an additional 1,528,512 shares during the last quarter. Coatue Management LLC increased its position in shares of Twilio by 329.4% in the second quarter. Coatue Management LLC now owns 1,857,746 shares of the technology company’s stock worth $54,079,000 after buying an additional 1,425,085 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Twilio by 487.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,066,806 shares of the technology company’s stock worth $31,054,000 after buying an additional 885,206 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Twilio by 26.8% in the second quarter. Bank of New York Mellon Corp now owns 3,854,787 shares of the technology company’s stock worth $112,213,000 after buying an additional 815,890 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Twilio by 21.1% in the second quarter. Vanguard Group Inc. now owns 4,212,606 shares of the technology company’s stock worth $122,629,000 after buying an additional 734,659 shares during the last quarter. 73.97% of the stock is currently owned by institutional investors and hedge funds.
Twilio Inc offers Cloud Communications Platform, which enables developers to build, scale and operate real-time communications within software applications. The Company’s platform consists of Programmable Communications Cloud, Super Network and Business Model for Innovators. Its Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications through its Application Programming Interfaces (APIs).
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