Twilio (NYSE:TWLO) Given New $85.00 Price Target at Canaccord Genuity Group

Twilio (NYSE:TWLO) had its target price cut by Canaccord Genuity Group from $90.00 to $85.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts also recently issued reports on TWLO. JMP Securities reaffirmed a market outperform rating and issued a $110.00 price target on shares of Twilio in a report on Thursday, February 15th. Sanford C. Bernstein reduced their price target on shares of Twilio from $70.00 to $68.00 and set a market perform rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of Twilio from $70.00 to $60.00 and set an equal weight rating for the company in a research report on Wednesday, March 6th. Royal Bank of Canada reissued an underperform rating and issued a $50.00 price objective on shares of Twilio in a research report on Wednesday, March 6th. Finally, Robert W. Baird cut their price objective on shares of Twilio from $70.00 to $65.00 and set a neutral rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Twilio has an average rating of Hold and an average target price of $68.59.

Twilio Price Performance

TWLO stock traded up $0.85 during trading on Wednesday, reaching $59.47. 3,823,024 shares of the company were exchanged, compared to its average volume of 3,234,963. The company has a market cap of $10.83 billion, a P/E ratio of -14.83 and a beta of 1.33. Twilio has a 52-week low of $45.02 and a 52-week high of $78.16. The stock’s 50 day moving average price is $60.69 and its 200 day moving average price is $64.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.64 and a current ratio of 6.64.

Twilio (NYSE:TWLO) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. As a group, analysts predict that Twilio will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Aidan Viggiano sold 1,694 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 167,101 shares of the company’s stock, valued at $10,529,034.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Dana Wagner sold 458 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.71, for a total value of $25,515.18. Following the completion of the sale, the insider now owns 171,744 shares of the company’s stock, valued at $9,567,858.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aidan Viggiano sold 1,694 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $63.01, for a total transaction 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 $10,529,034.01. The disclosure for this sale can be found here. Over 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 Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in shares of Twilio in the fourth quarter valued at $25,000. Truvestments Capital LLC boosted its stake in Twilio by 123.5% during the 3rd quarter. Truvestments Capital LLC now owns 447 shares of the technology company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Activest Wealth Management boosted its stake in Twilio by 327.9% during the 1st quarter. Activest Wealth Management now owns 522 shares of the technology company’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. Westend Capital Management LLC bought a new position in Twilio during the 1st quarter valued at $35,000. Finally, Blue Trust Inc. boosted its stake in Twilio by 1,566.7% during the 4th quarter. Blue Trust Inc. now owns 600 shares of the technology company’s stock valued at $46,000 after acquiring an additional 564 shares during the last quarter. 84.27% of the stock is currently owned by hedge funds and other institutional investors.

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.