BidaskClub Downgrades Twilio Inc. (TWLO) to Hold
Twilio Inc. (NYSE:TWLO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Other research analysts have also recently issued reports about the stock. Canaccord Genuity lifted their price target on shares of Twilio from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Drexel Hamilton reissued a “buy” rating and set a $47.00 target price (up from $44.00) on shares of Twilio in a research report on Wednesday, August 9th. William Blair reissued an “outperform” rating on shares of Twilio in a research report on Wednesday, September 27th. Northland Securities reissued a “buy” rating and set a $36.00 target price on shares of Twilio in a research report on Friday, October 13th. Finally, Zacks Investment Research raised shares of Twilio from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.91.
Twilio (NYSE TWLO) traded down $1.27 during trading hours on Friday, reaching $30.24. The company had a trading volume of 1,716,400 shares, compared to its average volume of 1,182,079.
Twilio (NYSE:TWLO) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $95.90 million for the quarter, compared to analysts’ expectations of $86.28 million. Twilio had a negative net margin of 13.42% and a negative return on equity of 15.40%. Twilio’s revenue was up 48.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. equities analysts anticipate that Twilio will post -0.7 earnings per share for the current fiscal year.
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In related news, Director Richard L. Dalzell sold 2,500 shares of Twilio stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $31.18, for a total value of $77,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Karyn Smith sold 5,213 shares of Twilio stock in a transaction on Monday, August 21st. The stock was sold at an average price of $29.21, for a total transaction of $152,271.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,847 shares of company stock valued at $1,645,621.
Several large investors have recently modified their holdings of TWLO. FMR LLC increased its stake 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 stake in Twilio by 329.4% during the second quarter. Coatue Management LLC now owns 1,857,746 shares of the technology company’s stock valued at $54,079,000 after purchasing an additional 1,425,085 shares during the last quarter. Foxhaven Asset Management LP increased its stake in Twilio by 1,068.4% during the second quarter. Foxhaven Asset Management LP now owns 1,399,696 shares of the technology company’s stock valued at $40,745,000 after purchasing an additional 1,279,896 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Twilio by 487.4% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,066,806 shares of the technology company’s stock valued at $31,054,000 after purchasing an additional 885,206 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Twilio by 26.8% during the second quarter. Bank of New York Mellon Corp now owns 3,854,787 shares of the technology company’s stock valued at $112,213,000 after purchasing an additional 815,890 shares during the last quarter. Institutional investors and hedge funds own 57.39% of the company’s stock.
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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