Twilio (TWLO) Price Target Raised to $84.00

Twilio (NYSE:TWLO) had its price target hoisted by JPMorgan Chase & Co. to $84.00 in a research note released on Wednesday morning, The Fly reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also commented on the stock. Deutsche Bank initiated coverage on shares of Twilio in a research report on Monday, October 8th. They set a buy rating and a $88.00 price objective for the company. Monness Crespi & Hardt upped their price objective on shares of Twilio from $85.00 to $108.00 and gave the company a buy rating in a research report on Wednesday, September 12th. JMP Securities upped their price objective on shares of Twilio from $76.00 to $86.00 and gave the company an outperform rating in a research report on Tuesday, September 4th. Zacks Investment Research raised shares of Twilio from a hold rating to a buy rating and set a $83.00 price objective for the company in a research report on Friday, October 12th. Finally, KeyCorp reaffirmed a buy rating and set a $99.00 price objective on shares of Twilio in a research report on Thursday, October 11th. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. Twilio currently has an average rating of Buy and a consensus target price of $81.22.

TWLO stock 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. Twilio has a 52-week low of $23.25 and a 52-week high of $98.89. 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 (NYSE:TWLO) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $168.90 million during the quarter, compared to analysts’ expectations of $151.62 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 68.0% compared to the same quarter last year. As a group, equities analysts anticipate that Twilio will post -0.77 EPS for the current fiscal year.

In related news, CEO Jeff Lawson sold 20,830 shares of the stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $71.67, for a total value of $1,492,886.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO George Hu sold 5,000 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $75.44, for a total transaction of $377,200.00. The disclosure for this sale can be found here. Insiders sold 184,477 shares of company stock valued at $14,711,857 in the last three months. Company insiders own 19.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Twilio by 7.1% in the third quarter. BlackRock Inc. now owns 3,835,967 shares of the technology company’s stock worth $330,966,000 after purchasing an additional 255,326 shares in the last quarter. Alliancebernstein L.P. raised its position in Twilio by 4,157.4% in the third quarter. Alliancebernstein L.P. now owns 1,504,150 shares of the technology company’s stock worth $129,778,000 after purchasing an additional 1,468,820 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in Twilio in the second quarter worth about $64,266,000. Morgan Stanley raised its position in Twilio by 5.3% in the second quarter. Morgan Stanley now owns 947,604 shares of the technology company’s stock worth $53,083,000 after purchasing an additional 47,775 shares in the last quarter. Finally, Millennium Management LLC raised its position in Twilio by 117.5% in the second quarter. Millennium Management LLC now owns 883,901 shares of the technology company’s stock worth $49,516,000 after purchasing an additional 477,552 shares in the last quarter. 57.29% of the stock is 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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