J P Morgan Chase & Co Increases Twilio Inc. (NYSE:TWLO) Price Target to $40.00

Twilio Inc. (NYSE:TWLO) had its price target hoisted by J P Morgan Chase & Co from $33.00 to $40.00 in a research note released on Tuesday, August 8th. The firm currently has an overweight rating on the technology company’s stock.

TWLO has been the subject of several other research reports. Robert W. Baird assumed coverage on shares of Twilio in a report on Monday, July 10th. They set an outperform rating and a $35.00 target price for the company. Vetr raised shares of Twilio from a buy rating to a strong-buy rating and set a $34.50 price objective for the company in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Twilio from a sell rating to a buy rating and set a $36.00 price objective for the company in a report on Friday, April 28th. Canaccord Genuity reissued a buy rating and issued a $33.00 price objective on shares of Twilio in a report on Wednesday, May 24th. Finally, William Blair reissued an outperform rating on shares of Twilio in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $37.25.

Twilio (NYSE TWLO) traded down 1.35% during midday trading on Tuesday, reaching $29.91. 1,409,815 shares of the company’s stock were exchanged. The company’s market cap is $2.75 billion. Twilio has a 52 week low of $22.80 and a 52 week high of $70.96. The firm has a 50-day moving average price of $30.16 and a 200 day moving average price of $29.19.

Twilio (NYSE:TWLO) last announced its earnings results on Monday, August 7th. The technology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $95.90 million during the quarter, compared to the consensus estimate of $86.28 million. Twilio had a negative net margin of 13.42% and a negative return on equity of 15.40%. Twilio’s revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. Analysts anticipate that Twilio will post ($0.23) EPS for the current year.

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In related news, Director Richard L. Dalzell sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $31.18, for a total transaction of $77,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Karyn Smith sold 5,213 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $28.13, for a total transaction of $146,641.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,157 shares of company stock valued at $1,558,012.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Twilio by 19.8% in the second quarter. FMR LLC now owns 9,259,375 shares of the technology company’s stock valued at $269,541,000 after buying an additional 1,528,512 shares during the period. Vanguard Group Inc. boosted its position in shares of Twilio by 21.1% in the second quarter. Vanguard Group Inc. now owns 4,212,606 shares of the technology company’s stock valued at $122,629,000 after buying an additional 734,659 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Twilio by 26.8% in the second quarter. Bank of New York Mellon Corp now owns 3,854,787 shares of the technology company’s stock valued at $112,213,000 after buying an additional 815,890 shares during the period. Coatue Management LLC boosted its position in shares of Twilio by 329.4% in the second quarter. Coatue Management LLC now owns 1,857,746 shares of the technology company’s stock valued at $54,079,000 after buying an additional 1,425,085 shares during the period. Finally, Foxhaven Asset Management LP boosted its position in shares of Twilio by 1,068.4% in the second quarter. Foxhaven Asset Management LP now owns 1,399,696 shares of the technology company’s stock valued at $40,745,000 after buying an additional 1,279,896 shares during the period. Hedge funds and other institutional investors own 77.32% 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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