Twilio’s (TWLO) “Buy” Rating Reaffirmed at Canaccord Genuity
Twilio Inc. (NYSE:TWLO)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research note issued to investors on Wednesday, May 24th. They presently have a $33.00 price target on the technology company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 22.81% from the company’s previous close.
TWLO has been the subject of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of Twilio in a research note on Friday, March 17th. Summit Redstone dropped their price objective on Twilio from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. JMP Securities lifted their price objective on Twilio from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and issued a $23.00 price objective (down from $32.50) on shares of Twilio in a research note on Thursday, May 4th. Finally, Drexel Hamilton lifted their price objective on Twilio to $50.00 in a research note on Wednesday, February 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.57.
Twilio (NYSE:TWLO) traded up 3.95% during trading on Wednesday, reaching $26.87. The company had a trading volume of 2,908,884 shares. Twilio has a 52 week low of $22.80 and a 52 week high of $70.96. The company’s 50-day moving average is $25.59 and its 200 day moving average is $29.12. The firm’s market capitalization is $2.43 billion.
Twilio (NYSE:TWLO) last posted its earnings results on Tuesday, May 2nd. The technology company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $87.37 million during the quarter, compared to analysts’ expectations of $83.57 million. Twilio had a negative return on equity of 14.26% and a negative net margin of 16.07%. Equities analysts anticipate that Twilio will post ($0.29) EPS for the current year.
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In other Twilio news, General Counsel Karyn Smith sold 5,399 shares of Twilio stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $31.80, for a total transaction of $171,688.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Mcgeever purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were acquired at an average cost of $23.19 per share, with a total value of $231,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 25,825 shares of company stock valued at $766,721.
A hedge fund recently raised its stake in Twilio stock. Perigon Wealth Management LLC raised its position in Twilio Inc. (NYSE:TWLO) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,325 shares of the technology company’s stock after buying an additional 693 shares during the period. Perigon Wealth Management LLC’s holdings in Twilio were worth $442,000 at the end of the most recent quarter. 72.46% of the stock is currently owned by hedge funds and other institutional investors.
Twilio Company Profile
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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