Twilio (NYSE:TWLO) PT Lowered to $85.00 at Canaccord Genuity Group

Twilio (NYSE:TWLO) had its price target cut by analysts at Canaccord Genuity Group from $90.00 to $85.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 46.65% from the stock’s previous close.

A number of other equities analysts have also issued reports on TWLO. Needham & Company LLC reiterated a “buy” rating and issued a $71.00 target price on shares of Twilio in a research report on Wednesday. The Goldman Sachs Group boosted their target price on Twilio from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Twilio in a research note on Thursday, February 15th. UBS Group lowered their price target on Twilio from $82.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, Barclays upped their price objective on Twilio from $60.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.86.

Twilio Stock Performance

Shares of TWLO traded down $5.41 during mid-day trading on Wednesday, reaching $57.96. 5,718,497 shares of the company’s stock traded hands, compared to its average volume of 3,189,863. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.64 and a current ratio of 6.64. The business’s 50-day moving average price is $60.72 and its 200-day moving average price is $64.38. The stock has a market capitalization of $10.55 billion, a P/E ratio of -10.61 and a beta of 1.33. Twilio has a 12 month low of $45.02 and a 12 month high of $78.16.

Twilio (NYSE:TWLO) last announced its earnings results 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 return on equity of 1.66% and a negative net margin of 24.44%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Equities analysts predict that Twilio will post -0.11 earnings per share for the current year.

Insider Activity at Twilio

In other news, insider Dana Wagner sold 841 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $61.43, for a total value of $51,662.63. Following the completion of the sale, the insider now directly owns 166,773 shares of the company’s stock, valued at $10,244,865.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Dana Wagner sold 841 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $61.43, for a total transaction of $51,662.63. Following the transaction, the insider now directly owns 166,773 shares in the company, valued at approximately $10,244,865.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Khozema Shipchandler sold 10,961 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $62.13, for a total transaction of $681,006.93. Following the completion of the transaction, the chief executive officer now directly owns 335,982 shares in the company, valued at $20,874,561.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,958 shares of company stock valued at $1,910,447. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Twilio

A number of hedge funds and other institutional investors have recently made changes to their positions in TWLO. Norges Bank acquired a new position in Twilio in the fourth quarter worth approximately $179,739,000. Kodai Capital Management LP acquired a new position in shares of Twilio during the 4th quarter worth $82,558,000. Contrarius Investment Management Ltd bought a new position in shares of Twilio during the 4th quarter valued at $80,043,000. Robertson Stephens Wealth Management LLC lifted its stake in shares of Twilio by 102.2% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 13,796 shares of the technology company’s stock valued at $807,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Twilio by 73.9% in the third 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 in the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.

Twilio Company Profile

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.