Canaccord Genuity Raises Twilio (TWLO) Price Target to $90.00

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Twilio (NYSE:TWLO) had its target price lifted by Canaccord Genuity from $80.00 to $90.00 in a research report report published on Wednesday morning, The Fly reports. Canaccord Genuity currently has a buy rating on the technology company’s stock.

TWLO has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of Twilio to $84.00 and gave the company an overweight rating in a research report on Wednesday. Piper Jaffray Companies restated a buy rating and issued a $85.00 price objective on shares of Twilio in a research report on Tuesday, August 7th. Mitsubishi UFJ Financial Group raised their price objective on shares of Twilio to $82.00 and gave the company an overweight rating in a research report on Tuesday, August 14th. Bank of America raised their price objective on shares of Twilio from $63.00 to $75.00 and gave the company a buy rating in a research report on Tuesday, August 7th. Finally, Northland Securities restated a buy rating and issued a $75.00 price objective on shares of Twilio in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $81.22.

Shares of NYSE:TWLO opened at $92.23 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 7.20 and a quick ratio of 7.20. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of -118.24 and a beta of 1.00. Twilio has a twelve month low of $23.25 and a twelve month high of $98.89.

Twilio (NYSE:TWLO) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $168.90 million during the quarter, compared to analyst estimates of $151.62 million. Twilio had a negative net margin of 16.70% and a negative return on equity of 19.56%. The company’s quarterly revenue was up 68.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. Analysts predict that Twilio will post -0.77 EPS for the current fiscal year.

In other Twilio news, COO George Hu sold 22,889 shares of Twilio stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $74.75, for a total transaction of $1,710,952.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Karyn Smith sold 2,009 shares of Twilio stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $73.71, for a total transaction of $148,083.39. The disclosure for this sale can be found here. Insiders sold 184,477 shares of company stock worth $14,711,857 over the last ninety days. 19.80% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its stake in shares of Twilio by 154.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,672 shares of the technology company’s stock worth $214,000 after acquiring an additional 1,622 shares in the last quarter. BlackRock Inc. raised its stake in shares of Twilio by 7.1% during the third quarter. BlackRock Inc. now owns 3,835,967 shares of the technology company’s stock worth $330,966,000 after acquiring an additional 255,326 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Twilio during the third quarter worth approximately $3,046,000. AXA raised its stake in shares of Twilio by 9.1% during the third quarter. AXA now owns 123,730 shares of the technology company’s stock worth $10,675,000 after acquiring an additional 10,312 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Twilio by 4,157.4% during the third quarter. Alliancebernstein L.P. now owns 1,504,150 shares of the technology company’s stock worth $129,778,000 after acquiring an additional 1,468,820 shares in the last quarter. 57.29% of the stock is currently owned by hedge funds and other institutional investors.

About Twilio

Twilio Inc provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications in the United States and internationally. The company's programmable communications cloud provides a set of application programming interfaces that enable developers to embed voice, messaging, and video capabilities into their applications.

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