Twilio Inc. (TWLO) Upgraded to Buy at Zacks Investment Research

Twilio Inc. (NYSE:TWLO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, July 19th. The firm currently has a $34.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.35% from the stock’s current price.

According to Zacks, “Twilio offers cloud-based software that helps developers make and receive phone calls, text messages and video chats. Estimates for the stock have remained unchanged, of late. The company’s key initiatives, which include product innovation, global expansion and acquisitions, are helping it in gaining customers, which bodes well for long-term growth. We opine that proliferation in cloud and mobile penetration across the globe will continue to fuel Twilio’s customer growth over the long run. However, its largest customer, Uber’s recent strategy on utilizing communication services will dent Twilio’s overall growth prospect throughout this year. Furthermore, intensifying competition in the communications market and growing prevalence of in-app push notifications are major concerns. Notably, the stock has underperformed the broader market in the last one year.”

A number of other analysts have also recently issued reports on TWLO. Canaccord Genuity cut their target price on shares of Twilio from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Summit Redstone cut their target price on shares of Twilio from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Drexel Hamilton restated a “buy” rating and set a $50.00 target price on shares of Twilio in a research note on Tuesday, May 2nd. Vetr cut shares of Twilio from a “strong-buy” rating to a “buy” rating and set a $36.20 target price for the company. in a research note on Thursday, April 27th. Finally, Summit Research dropped their price objective on shares of Twilio from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Twilio has a consensus rating of “Buy” and an average target price of $37.25.

Twilio (NYSE:TWLO) traded up 3.63% on Wednesday, reaching $31.38. The company’s stock had a trading volume of 3,415,990 shares. Twilio has a 1-year low of $22.80 and a 1-year high of $70.96. The stock has a 50 day moving average price of $29.93 and a 200-day moving average price of $29.14. The company’s market capitalization is $2.85 billion.

Twilio (NYSE:TWLO) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). Twilio had a negative net margin of 13.42% and a negative return on equity of 15.99%. The company had revenue of $95.90 million during the quarter, compared to the consensus estimate of $86.28 million. During the same quarter last year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 48.7% on a year-over-year basis. Equities analysts predict that Twilio will post ($0.23) earnings per share for the current fiscal year.

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In other Twilio news, General Counsel Karyn Smith sold 5,381 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $31.40, for a total transaction of $168,963.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $30.01, for a total transaction of $75,025.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,870 shares of company stock worth $1,296,550 over the last three months.

Hedge funds and other institutional investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. increased its position in shares of Twilio by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 4,750 shares of the technology company’s stock worth $138,000 after buying an additional 34 shares during the period. Pacer Advisors Inc. increased its position in shares of Twilio by 12.1% in the second quarter. Pacer Advisors Inc. now owns 5,135 shares of the technology company’s stock worth $149,000 after buying an additional 555 shares during the period. IFP Advisors Inc increased its position in shares of Twilio by 10.0% in the second quarter. IFP Advisors Inc now owns 5,175 shares of the technology company’s stock worth $151,000 after buying an additional 469 shares during the period. US Bancorp DE increased its position in shares of Twilio by 199.1% in the second quarter. US Bancorp DE now owns 5,826 shares of the technology company’s stock worth $170,000 after buying an additional 3,878 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Twilio by 111.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,978 shares of the technology company’s stock worth $174,000 after buying an additional 3,156 shares during the period. Hedge funds and other institutional investors own 73.97% of the company’s stock.

About Twilio

Twilio Inc offers Cloud Communications Platform, which enables developers to build, scale and operate real-time communications within software applications. The Company’s platform consists of Programmable Communications Cloud, Super Network and Business Model for Innovators. Its Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications through its Application Programming Interfaces (APIs).

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