Twilio (TWLO) Rating Reiterated by Canaccord Genuity
Twilio (NYSE:TWLO)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a research report issued on Wednesday. They currently have a $38.00 price objective on the technology company’s stock. Canaccord Genuity’s price target suggests a potential upside of 53.23% from the company’s previous close.
A number of other research firms also recently issued reports on TWLO. Drexel Hamilton reaffirmed a “buy” rating and set a $47.00 price target (up previously from $44.00) on shares of Twilio in a research note on Wednesday, August 9th. J P Morgan Chase & Co upped their price target on shares of Twilio from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of Twilio from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Robert W. Baird reaffirmed a “buy” rating and set a $37.00 price target on shares of Twilio in a research note on Friday, November 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Twilio in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $36.78.
Twilio (NYSE:TWLO) opened at $24.80 on Wednesday. Twilio has a 12-month low of $22.80 and a 12-month high of $35.15.
Twilio (NYSE:TWLO) last issued its earnings results on Wednesday, November 8th. The technology company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.12. Twilio had a negative net margin of 15.69% and a negative return on equity of 17.55%. The firm had revenue of $100.54 million during the quarter, compared to analyst estimates of $92.50 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Twilio’s revenue for the quarter was up 40.6% on a year-over-year basis. sell-side analysts predict that Twilio will post -0.75 earnings per share for the current year.
In other news, General Counsel Karyn Smith sold 5,213 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $31.23, for a total value of $162,801.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Lee Kirkpatrick sold 13,829 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $30.85, for a total transaction of $426,624.65. The disclosure for this sale can be found here. In the last three months, insiders sold 47,347 shares of company stock worth $1,416,011. Insiders own 25.03% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Twilio by 199.1% in the second quarter. US Bancorp DE now owns 5,826 shares of the technology company’s stock worth $170,000 after purchasing an additional 3,878 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Twilio by 22.5% in the second quarter. Janney Montgomery Scott LLC now owns 10,930 shares of the technology company’s stock worth $318,000 after purchasing an additional 2,005 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Twilio by 204.0% in the second quarter. Great West Life Assurance Co. Can now owns 7,297 shares of the technology company’s stock worth $212,000 after purchasing an additional 4,897 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Twilio by 138,746.4% in the second quarter. Sei Investments Co. now owns 38,877 shares of the technology company’s stock worth $1,132,000 after purchasing an additional 38,849 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Twilio by 10.0% in the second quarter. IFP Advisors Inc now owns 5,175 shares of the technology company’s stock worth $151,000 after purchasing an additional 469 shares during the last quarter. 60.13% of the stock is currently owned by institutional investors and hedge funds.
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Twilio Company Profile
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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