Twilio (NYSE:TWLO) Trading Down 8.2% on Analyst Downgrade

Twilio Inc. (NYSE:TWLO) was down 8.2% during trading on Wednesday after Canaccord Genuity Group lowered their price target on the stock from $90.00 to $85.00. Canaccord Genuity Group currently has a buy rating on the stock. Twilio traded as low as $58.07 and last traded at $58.16. Approximately 5,209,947 shares changed hands during mid-day trading, an increase of 64% from the average daily volume of 3,184,619 shares. The stock had previously closed at $63.37.

A number of other analysts have also recently commented on TWLO. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price target on shares of Twilio in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Twilio from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Northland Securities cut shares of Twilio from an “outperform” rating to a “market perform” rating and set a $66.00 target price on the stock. in a research note on Thursday, February 15th. Jefferies Financial Group dropped their target price on shares of Twilio from $65.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $50.00 target price on shares of Twilio in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Twilio has an average rating of “Hold” and an average price target of $68.86.

Insider Activity

In other news, insider Dana Wagner sold 1,666 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $62.92, for a total transaction of $104,824.72. Following the transaction, the insider now directly owns 130,456 shares of the company’s stock, valued at approximately $8,208,291.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Dana Wagner sold 1,666 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $62.92, for a total value of $104,824.72. Following the completion of the transaction, the insider now owns 130,456 shares in the company, valued at $8,208,291.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Aidan Viggiano sold 1,200 shares of Twilio stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.71, for a total value of $66,852.00. Following the transaction, the chief financial officer now directly owns 241,044 shares of the company’s stock, valued at approximately $13,428,561.24. 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 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Twilio

A number of institutional investors have recently modified their holdings of TWLO. Commonwealth Equity Services LLC increased its holdings in shares of Twilio by 1.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 110,155 shares of the technology company’s stock worth $6,447,000 after buying an additional 1,951 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Twilio by 10.0% in the 3rd quarter. Raymond James & Associates now owns 41,632 shares of the technology company’s stock worth $2,437,000 after purchasing an additional 3,786 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Twilio by 7.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 29,022 shares of the technology company’s stock valued at $1,699,000 after purchasing an additional 2,014 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Twilio during the 3rd quarter worth about $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Twilio by 4.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,111 shares of the technology company’s stock worth $2,757,000 after purchasing an additional 1,881 shares in the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.

Twilio Stock Performance

The stock has a fifty day simple moving average of $60.72 and a two-hundred day simple moving average of $64.38. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.64 and a current ratio of 6.64. The stock has a market cap of $10.59 billion, a PE ratio of -10.61 and a beta of 1.33.

Twilio (NYSE:TWLO) last released its quarterly earnings results on Wednesday, February 14th. The technology company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.17. The business had revenue of $1.08 billion during 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%. Equities analysts anticipate that Twilio Inc. will post -0.11 EPS for the current fiscal year.

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.