Twilio (TWLO) Price Target Raised to $92.00

Twilio (NYSE:TWLO) had its price objective raised by Bank of America from $87.00 to $92.00 in a report released on Wednesday, MarketBeat.com reports. Bank of America currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank initiated coverage on shares of Twilio in a research note on Monday, October 8th. They issued a buy rating and a $88.00 price target on the stock. Monness Crespi & Hardt lifted their price target on shares of Twilio from $85.00 to $108.00 and gave the company a buy rating in a research note on Wednesday, September 12th. JMP Securities lifted their price target on shares of Twilio from $76.00 to $86.00 and gave the company an outperform rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded shares of Twilio from a hold rating to a buy rating and set a $83.00 price target on the stock in a research note on Friday, October 12th. Finally, KeyCorp reiterated a buy rating and issued a $99.00 price target on shares of Twilio in a research note on Thursday, October 11th. One research analyst has rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $81.22.

Shares of NYSE:TWLO opened at $92.23 on Wednesday. Twilio has a 12 month low of $23.25 and a 12 month high of $98.89. The company has a current ratio of 7.20, a quick ratio of 7.20 and a debt-to-equity ratio of 0.98. The firm has a market cap of $9.37 billion, a P/E ratio of -118.24 and a beta of 1.00.

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

In other news, General Counsel Karyn Smith sold 3,521 shares of Twilio stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $71.67, for a total value of $252,350.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeff Lawson sold 20,830 shares of Twilio stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $85.72, for a total transaction of $1,785,547.60. The disclosure for this sale can be found here. In the last three months, insiders sold 184,477 shares of company stock valued at $14,711,857. Insiders own 19.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Twilio by 7.1% during the 3rd quarter. BlackRock Inc. now owns 3,835,967 shares of the technology company’s stock worth $330,966,000 after buying an additional 255,326 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Twilio by 4,157.4% during the 3rd quarter. Alliancebernstein L.P. now owns 1,504,150 shares of the technology company’s stock worth $129,778,000 after buying an additional 1,468,820 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Twilio during the 2nd quarter worth about $64,266,000. Morgan Stanley boosted its holdings in shares of Twilio by 5.3% during the 2nd quarter. Morgan Stanley now owns 947,604 shares of the technology company’s stock worth $53,083,000 after buying an additional 47,775 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Twilio by 117.5% during the 2nd quarter. Millennium Management LLC now owns 883,901 shares of the technology company’s stock worth $49,516,000 after buying an additional 477,552 shares during the period. 57.29% of the stock is owned by institutional investors.

Twilio Company Profile

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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Analyst Recommendations for Twilio (NYSE:TWLO)

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