Wells Fargo & Company Cuts Twilio (NYSE:TWLO) Price Target to $120.00

Twilio (NYSE:TWLO) had its price objective trimmed by Wells Fargo & Company from $160.00 to $120.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also recently commented on TWLO. Morgan Stanley lowered their price objective on shares of Twilio from $160.00 to $111.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group increased their price target on shares of Twilio from $105.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Scotiabank raised their price objective on shares of Twilio from $90.00 to $160.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. UBS Group upped their target price on Twilio from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, JMP Securities reissued a “market outperform” rating and set a $165.00 price target on shares of Twilio in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.30.

Twilio Stock Performance

NYSE:TWLO opened at $93.54 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of -146.16, a price-to-earnings-growth ratio of 4.30 and a beta of 1.50. The firm’s fifty day moving average price is $99.96 and its 200 day moving average price is $103.75. Twilio has a 1-year low of $52.51 and a 1-year high of $151.95.

Twilio (NYSE:TWLO) last issued its earnings results on Thursday, February 13th. The technology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.77). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Twilio had a positive return on equity of 1.38% and a negative net margin of 2.45%. On average, sell-side analysts expect that Twilio will post 1.44 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Aidan Viggiano sold 7,524 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $95.88, for a total value of $721,401.12. Following the transaction, the chief financial officer now directly owns 176,640 shares in the company, valued at $16,936,243.20. This trade represents a 4.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Khozema Shipchandler sold 12,056 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $95.88, for a total value of $1,155,929.28. Following the sale, the chief executive officer now owns 295,134 shares of the company’s stock, valued at $28,297,447.92. The trade was a 3.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,471 shares of company stock valued at $2,344,149 over the last quarter. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Twilio

A number of hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in Twilio by 718.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,262,765 shares of the technology company’s stock worth $352,640,000 after purchasing an additional 2,864,235 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in shares of Twilio in the fourth quarter worth about $301,258,000. Norges Bank acquired a new stake in shares of Twilio in the fourth quarter valued at about $222,146,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Twilio by 26.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,602,428 shares of the technology company’s stock valued at $173,190,000 after buying an additional 331,202 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Twilio by 1,292.9% during the 4th quarter. Two Sigma Investments LP now owns 1,129,725 shares of the technology company’s stock valued at $122,101,000 after buying an additional 1,048,619 shares during the period. Hedge funds and other institutional investors own 84.27% of the company’s stock.

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.