Canaccord Genuity Group Cuts Twilio (NYSE:TWLO) Price Target to $85.00

Twilio (NYSE:TWLO) had its price objective reduced by Canaccord Genuity Group from $90.00 to $85.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 46.65% from the stock’s previous close.

TWLO has been the subject of several other reports. Northland Securities downgraded shares of Twilio from an “outperform” rating to a “market perform” rating and set a $66.00 target price for the company. in a research note on Thursday, February 15th. UBS Group cut their price objective on Twilio from $82.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Oppenheimer reissued an “outperform” rating and set a $75.00 target price on shares of Twilio in a report on Wednesday, April 17th. TD Cowen cut their price target on Twilio from $72.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, March 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price objective on shares of Twilio in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.86.

Twilio Stock Down 8.5 %

Shares of NYSE TWLO traded down $5.41 during trading hours on Wednesday, hitting $57.96. The company had a trading volume of 5,718,497 shares, compared to its average volume of 3,189,863. Twilio has a 1-year low of $45.02 and a 1-year high of $78.16. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $60.72 and its 200-day moving average is $64.38. The stock has a market capitalization of $10.55 billion, a P/E ratio of -10.61 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 (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.17. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Twilio had a negative net margin of 24.44% and a negative return on equity of 1.66%. On average, analysts expect that Twilio will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Twilio

In related news, CFO Aidan Viggiano sold 1,694 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $10,529,034.01. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Dana Wagner sold 458 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.71, for a total transaction of $25,515.18. Following the sale, the insider now owns 171,744 shares in the company, valued at approximately $9,567,858.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aidan Viggiano sold 1,694 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was 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 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. Insiders have sold a total of 30,958 shares of company stock valued at $1,910,447 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Twilio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in Twilio during the 4th quarter worth approximately $25,000. Truvestments Capital LLC raised its stake in shares of Twilio by 123.5% during the third 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 lifted its holdings in shares of Twilio by 327.9% during the first quarter. Activest Wealth Management now owns 522 shares of the technology company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Westend Capital Management LLC bought a new stake in shares of Twilio in the first quarter worth $35,000. Finally, Blue Trust Inc. increased its holdings in Twilio by 1,566.7% in the fourth quarter. Blue Trust Inc. now owns 600 shares of the technology company’s stock valued at $46,000 after purchasing an additional 564 shares during the period. 84.27% of the stock is currently owned by institutional investors.

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.