Piper Sandler Increases Twilio (NYSE:TWLO) Price Target to $79.00

Twilio (NYSE:TWLO) had its price target boosted by equities research analysts at Piper Sandler from $78.00 to $79.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target suggests a potential upside of 33.76% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. HSBC lowered shares of Twilio from a “hold” rating to a “reduce” rating and cut their target price for the stock from $62.00 to $61.00 in a report on Wednesday, February 14th. Northland Securities downgraded shares of Twilio from an “outperform” rating to a “market perform” rating and set a $66.00 price objective for the company. in a research report on Thursday, February 15th. StockNews.com downgraded shares of Twilio from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $71.00 price objective on shares of Twilio in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of Twilio from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Twilio has an average rating of “Hold” and a consensus price target of $68.05.

Twilio Price Performance

Shares of TWLO stock traded down $4.31 during trading hours on Wednesday, reaching $59.06. 4,369,324 shares of the company were exchanged, compared to its average volume of 3,176,018. Twilio has a fifty-two week low of $45.02 and a fifty-two week high of $78.16. The stock’s fifty day moving average is $60.72 and its two-hundred day moving average is $64.38. The company has a market cap of $10.75 billion, a price-to-earnings ratio of -10.77 and a beta of 1.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.64 and a quick ratio of 6.64.

Twilio (NYSE:TWLO) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.17. Twilio had a negative net margin of 24.44% and a negative return on equity of 1.66%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Sell-side analysts forecast that Twilio will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Twilio

In other Twilio news, CFO Aidan Viggiano sold 3,375 shares of Twilio stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $60.79, for a total value of $205,166.25. Following the transaction, the chief financial officer now owns 231,036 shares in the company, valued at $14,044,678.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Aidan Viggiano sold 3,375 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $60.79, for a total transaction of $205,166.25. Following the sale, the chief financial officer now directly owns 231,036 shares in the company, valued at $14,044,678.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dana Wagner sold 458 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.71, for a total transaction of $25,515.18. Following the completion of the transaction, the insider now owns 171,744 shares of the company’s stock, valued at approximately $9,567,858.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,958 shares of company stock valued at $1,910,447. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TWLO. Norges Bank bought a new position in Twilio in the 4th quarter valued at approximately $179,739,000. Kodai Capital Management LP bought a new position in Twilio during the 4th quarter worth approximately $82,558,000. Contrarius Investment Management Ltd bought a new position in Twilio during the 4th quarter worth approximately $80,043,000. Robertson Stephens Wealth Management LLC raised its holdings in Twilio by 102.2% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 13,796 shares of the technology company’s stock worth $807,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Twilio by 73.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,453 shares of the technology company’s stock worth $70,965,000 after purchasing an additional 515,068 shares during the last quarter. Institutional investors own 84.27% of the company’s stock.

About Twilio

Twilio Inc, together with its subsidiaries, provides customer engagement platform solutions in the United States and internationally. It operates through two segments, Twilio Communications and Twilio Segment. The company provides various application programming interfaces and software solutions for communications between customers and end users, including messaging, voice, email, flex, marketing campaigns, and user identity and authentication.