Twilio (NYSE:TWLO) Given New $240.00 Price Target at Needham & Company LLC

Twilio (NYSE:TWLO) had its target price reduced by investment analysts at Needham & Company LLC from $280.00 to $240.00 in a report released on Friday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC‘s price target indicates a potential downside of 1.12% from the stock’s current price.

Other analysts have also issued research reports about the company. KeyCorp upped their target price on Twilio from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group lifted their price target on shares of Twilio from $200.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. HSBC lowered shares of Twilio from a “hold” rating to a “reduce” rating and set a $211.00 price objective for the company. in a report on Thursday, September 24th. Bank of America upped their price objective on shares of Twilio from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Twilio in a report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $269.30.

Twilio Trading Down 4.4%

Shares of TWLO stock opened at $242.71 on Friday. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $256.85 and a two-hundred day moving average price of $187.78. Twilio has a 12-month low of $105.00 and a 12-month high of $308.40. The firm has a market cap of $37.27 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 5.20 and a beta of 1.35.

Twilio (NYSE:TWLO) last announced its quarterly earnings data on Thursday, October 29th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Twilio had a return on equity of 5.09% and a net margin of 20.61%. The company’s revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 EPS. Equities analysts anticipate that Twilio will post 3.12 EPS for the current fiscal year.

Insider Activity at Twilio

In related news, CEO Khozema Shipchandler sold 14,442 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $291.03, for a total transaction of $4,203,055.26. Following the transaction, the chief executive officer directly owned 178,863 shares in the company, valued at $52,054,498.89. This trade represents a 7.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew Stafman sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $247.08, for a total value of $123,540,000.00. Following the transaction, the director owned 120,000 shares in the company, valued at approximately $29,649,600. The trade was a 80.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 538,818 shares of company stock worth $134,833,645 in the last ninety days. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in Twilio during the 2nd quarter valued at $1,637,000. Congress Asset Management Co. increased its position in shares of Twilio by 16.2% in the third quarter. Congress Asset Management Co. now owns 160,425 shares of the technology company’s stock valued at $46,918,000 after acquiring an additional 22,311 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Twilio by 67.8% in the second quarter. Assenagon Asset Management S.A. now owns 120,582 shares of the technology company’s stock valued at $24,880,000 after acquiring an additional 48,742 shares during the period. Nykredit A S purchased a new position in shares of Twilio in the second quarter valued at about $10,514,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Twilio during the first quarter valued at about $4,288,000. 84.27% of the stock is owned by hedge funds and other institutional investors.

Twilio News Roundup

Here are the key news stories impacting Twilio this week:

• Positive Sentiment: Third-quarter results exceeded expectations. Twilio reported adjusted earnings of $1.65 per share, above the $1.46-$1.47 consensus, while revenue of $1.56 billion topped estimates of roughly $1.52 billion. Revenue increased 19.9% year over year, and the company delivered a substantial year-over-year improvement in earnings. Twilio Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Full-year revenue guidance was raised. The improved annual outlook suggests management continues to see healthy demand for Twilio’s customer-engagement platform, despite a more cautious fourth-quarter forecast. Twilio Raises Full-Year Revenue Guidance
• Neutral Sentiment: Analyst commentary before the report included a new Buy rating and a Wells Fargo view that the stock could rise, but those supportive opinions were overshadowed by the company’s forward outlook. New Buy Rating for Twilio
• Negative Sentiment: Fourth-quarter growth is expected to slow materially. Twilio’s organic revenue growth was 16% in the third quarter, but management anticipates only 11%-12% growth in the fourth quarter. The outlook also calls for lower profit, raising concerns that the company’s growth trajectory is decelerating even as it remains profitable. Twilio Sees Slower Q4 Growth and Lower Profit

About Twilio

Twilio Inc (NYSE:TWLO) provides a cloud-based customer engagement platform that enables businesses to communicate with customers through software and application programming interfaces (APIs). Its services support messaging, voice, video, email, authentication, contact centers and other digital interactions across mobile and web applications.

The company’s products include programmable communications tools, Twilio SendGrid for email delivery, Twilio Verify for user authentication, Twilio Flex for cloud contact centers, and Twilio Segment for collecting and using customer data.