Twilio (NYSE:TWLO) Given New $68.00 Price Target at Sanford C. Bernstein

Twilio (NYSE:TWLO) had its price target decreased by Sanford C. Bernstein from $70.00 to $68.00 in a report issued on Wednesday, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed an underperform rating and set a $50.00 price objective on shares of Twilio in a report on Wednesday, March 6th. Jefferies Financial Group lowered their price objective on Twilio from $65.00 to $60.00 and set a hold rating on the stock in a research note on Wednesday, March 6th. Piper Sandler upgraded Twilio from a neutral rating to an overweight rating and boosted their price objective for the company from $75.00 to $82.00 in a research note on Friday, January 12th. The Goldman Sachs Group boosted their price objective on Twilio from $69.00 to $70.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a buy rating and set a $71.00 price target on shares of Twilio in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $68.59.

Twilio Trading Up 1.5 %

NYSE TWLO traded up $0.85 during trading hours on Wednesday, reaching $59.47. The company’s stock had a trading volume of 3,823,024 shares, compared to its average volume of 3,234,963. 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 has a 52 week low of $45.02 and a 52 week high of $78.16. The firm has a fifty day simple moving average of $60.72 and a 200-day simple moving average of $64.38. The stock has a market cap of $10.83 billion, a P/E ratio of -14.83 and a beta of 1.33.

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 net margin of 24.44% and a negative return on equity of 1.66%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Equities analysts forecast that Twilio will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dana Wagner sold 1,666 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $62.92, for a total transaction of $104,824.72. Following the completion of the sale, the insider now owns 130,456 shares of the company’s stock, valued at $8,208,291.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Dana Wagner sold 1,666 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $62.92, for a total value of $104,824.72. Following the completion of the sale, the insider now owns 130,456 shares of the company’s stock, valued at $8,208,291.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aidan Viggiano sold 1,694 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $63.01, for a total value of $106,738.94. Following the completion of the sale, the chief financial officer now directly owns 167,101 shares of the company’s stock, valued at approximately $10,529,034.01. The disclosure for this sale can be found here. Insiders sold a total of 30,958 shares of company stock valued at $1,910,447 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Twilio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its holdings in Twilio by 6.9% in the 3rd quarter. Synovus Financial Corp now owns 4,764 shares of the technology company’s stock worth $279,000 after buying an additional 306 shares in the last quarter. Pearl River Capital LLC grew its stake in shares of Twilio by 363.2% during the 3rd quarter. Pearl River Capital LLC now owns 30,641 shares of the technology company’s stock valued at $1,793,000 after purchasing an additional 24,026 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Twilio by 10.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,185,244 shares of the technology company’s stock valued at $69,372,000 after purchasing an additional 113,042 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of Twilio during the 3rd quarter valued at about $4,738,000. Finally, New York Life Investment Management LLC grew its stake in shares of Twilio by 70.9% during the 3rd quarter. New York Life Investment Management LLC now owns 22,119 shares of the technology company’s stock valued at $1,295,000 after purchasing an additional 9,180 shares during the period. Hedge funds and other 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.