Canaccord Genuity Group Lowers Twilio (NYSE:TWLO) Price Target to $85.00

Twilio (NYSE:TWLO) had its price target reduced by research analysts at Canaccord Genuity Group from $90.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 42.93% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Twilio from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 6th. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price target on shares of Twilio in a research note on Wednesday, April 17th. Robert W. Baird dropped their price objective on Twilio from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of Twilio in a report on Thursday, February 15th. Finally, The Goldman Sachs Group boosted their price target on shares of Twilio from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Twilio has a consensus rating of “Hold” and an average price target of $68.59.

Twilio Stock Up 1.5 %

TWLO stock opened at $59.47 on Wednesday. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $60.69 and its 200 day simple moving average is $64.30. The stock has a market cap of $10.83 billion, a PE ratio of -14.83 and a beta of 1.33. Twilio has a fifty-two week low of $45.02 and a fifty-two week high of $78.16.

Twilio (NYSE:TWLO) last released its quarterly earnings results on Wednesday, February 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. As a group, sell-side analysts predict that Twilio will post -0.11 EPS for the current year.

Insider Activity

In related news, CFO Aidan Viggiano sold 1,694 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $63.01, for a total transaction of $106,738.94. Following the completion of the transaction, the chief financial officer now owns 167,101 shares of the company’s stock, valued at approximately $10,529,034.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Twilio news, insider Dana Wagner sold 458 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 directly owns 171,744 shares in the company, valued at $9,567,858.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aidan Viggiano sold 1,694 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $63.01, for a total transaction of $106,738.94. Following the completion of the sale, the chief financial officer now owns 167,101 shares in the company, valued at approximately $10,529,034.01. 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. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Twilio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Twilio by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 17,809,573 shares of the technology company’s stock worth $1,351,212,000 after acquiring an additional 241,738 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Twilio by 1.8% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,135,620 shares of the technology company’s stock valued at $359,118,000 after purchasing an additional 111,093 shares during the period. Norges Bank acquired a new position in Twilio during the fourth quarter valued at approximately $179,739,000. Dimensional Fund Advisors LP raised its holdings in Twilio by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,385,466 shares of the technology company’s stock worth $105,131,000 after purchasing an additional 217,796 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Twilio by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,255,577 shares of the technology company’s stock worth $95,261,000 after purchasing an additional 43,124 shares in the last quarter. 84.27% of the stock is owned by institutional investors and hedge funds.

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.