Twilio (NYSE:TWLO) Price Target Cut to $85.00 by Analysts at Canaccord Genuity Group

Twilio (NYSE:TWLO) had its target price trimmed by Canaccord Genuity Group from $90.00 to $85.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on TWLO. Wells Fargo & Company cut their price target on Twilio from $70.00 to $60.00 and set an equal weight rating on the stock in a research note on Wednesday, March 6th. Piper Sandler increased their price target on Twilio from $78.00 to $79.00 and gave the company an overweight rating in a report on Wednesday. JMP Securities reissued a market outperform rating and set a $110.00 price target on shares of Twilio in a report on Thursday, February 15th. Barclays increased their price target on Twilio from $60.00 to $70.00 and gave the company an equal weight rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued an underperform rating and set a $50.00 price target on shares of Twilio in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $68.59.

Twilio Stock Up 1.5 %

Shares of TWLO stock traded up $0.85 during midday trading on Wednesday, reaching $59.47. 3,823,024 shares of the stock were exchanged, compared to its average volume of 3,234,963. Twilio has a 1 year low of $45.02 and a 1 year high of $78.16. The company’s 50 day moving average is $60.69 and its two-hundred day moving average is $64.30. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.83 billion, a PE ratio of -14.83 and a beta of 1.33.

Twilio (NYSE:TWLO) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.17. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Twilio had a negative return on equity of 1.66% and a negative net margin of 24.44%. On average, equities research analysts predict that Twilio will post -0.11 EPS for the current year.

Insider Activity at Twilio

In related news, CFO Aidan Viggiano sold 1,694 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $63.01, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Twilio news, insider Dana Wagner sold 841 shares of the firm’s stock in a transaction dated 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 owns 166,773 shares of the company’s stock, valued at $10,244,865.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Aidan Viggiano sold 1,694 shares of the firm’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 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. In the last quarter, insiders sold 30,958 shares of company stock valued at $1,910,447. Insiders own 4.20% of the company’s stock.

Institutional Trading of Twilio

Several institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its stake in Twilio by 14.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,339 shares of the technology company’s stock worth $102,000 after purchasing an additional 167 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its stake in shares of Twilio by 4.0% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 4,728 shares of the technology company’s stock valued at $359,000 after acquiring an additional 181 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Twilio by 1.8% during the fourth quarter. Brighton Jones LLC now owns 10,209 shares of the technology company’s stock valued at $775,000 after acquiring an additional 185 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Twilio by 29.0% during the first quarter. Fifth Third Bancorp now owns 841 shares of the technology company’s stock valued at $51,000 after acquiring an additional 189 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. raised its stake in shares of Twilio by 15.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,475 shares of the technology company’s stock valued at $112,000 after acquiring an additional 192 shares in the last quarter. 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.