Twilio Inc (TWLO) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Twilio Inc (NASDAQ:TWLO) from a sell rating to a hold rating in a report issued on Saturday.

According to Zacks, “Twilio Inc. provides Cloud Communications Platforms. The Company enables developers to build, scale and operate real-time communications within software applications. Its Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities. The Super Network is the software layer which allows its customers’ software to communicate with connected devices globally. Twilio Inc. is based in SAN FRANCISCO, United States. “

TWLO has been the topic of a number of other reports. Summit Redstone started coverage on shares of Twilio in a research note on Thursday, January 12th. They set a buy rating and a $36.00 price target on the stock. William Blair reaffirmed an outperform rating on shares of Twilio in a research note on Wednesday, February 8th. Canaccord Genuity raised shares of Twilio from a hold rating to a buy rating and set a $35.00 price target on the stock in a research note on Tuesday, January 10th. JMP Securities upped their price target on shares of Twilio from $35.00 to $37.00 and gave the stock an outperform rating in a research note on Wednesday, February 8th. Finally, Mitsubishi UFJ Financial Group reaffirmed a neutral rating and set a $32.50 price target (up from $30.00) on shares of Twilio in a research note on Thursday, February 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $40.15.

Shares of Twilio (NASDAQ:TWLO) traded down 2.40% on Friday, reaching $30.87. 1,173,682 shares of the company’s stock were exchanged. The firm’s market capitalization is $2.70 billion. The firm has a 50 day moving average of $29.91 and a 200 day moving average of $33.45. Twilio has a one year low of $23.66 and a one year high of $70.96.

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In other Twilio news, Director Scott Campbell Raney sold 22,058 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $32.17, for a total value of $709,605.86. Following the transaction, the director now directly owns 22,058 shares in the company, valued at approximately $709,605.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Karyn Smith sold 5,399 shares of the company’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $31.80, for a total transaction of $171,688.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,427 shares of company stock worth $1,743,096.

Several hedge funds and other institutional investors have recently made changes to their positions in TWLO. Parker Investment Management LLC bought a new position in shares of Twilio during the third quarter valued at $284,000. Nwam LLC bought a new position in shares of Twilio during the third quarter valued at $203,000. Concert Wealth Management Inc. bought a new position in shares of Twilio during the third quarter valued at $334,000. Wells Fargo & Company MN raised its position in shares of Twilio by 197.5% in the third quarter. Wells Fargo & Company MN now owns 43,919 shares of the technology company’s stock valued at $2,826,000 after buying an additional 29,155 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new position in shares of Twilio during the third quarter valued at $1,249,000.

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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