Twilio (TWLO) Given Buy Rating at Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Twilio (NYSE:TWLO) in a research report sent to investors on Wednesday morning. The firm currently has a $38.00 price target on the technology company’s stock.

A number of other brokerages have also recently commented on TWLO. Goldman Sachs Group reaffirmed a sell rating and issued a $33.00 price target (up from $30.00) on shares of Twilio in a research note on Wednesday, August 9th. Drexel Hamilton reissued a buy rating and set a $47.00 target price (up from $44.00) on shares of Twilio in a research note on Wednesday, August 9th. Northland Securities reissued a buy rating and set a $36.00 target price on shares of Twilio in a research note on Friday, October 13th. BidaskClub raised Twilio from a hold rating to a buy rating in a research note on Thursday, October 5th. Finally, Oppenheimer reissued a buy rating and set a $38.00 target price on shares of Twilio in a research note on Monday, September 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $36.78.

Twilio (TWLO) traded down $0.92 during trading on Wednesday, reaching $24.07. 4,788,500 shares of the company’s stock were exchanged, compared to its average volume of 2,758,849. Twilio has a 52 week low of $22.80 and a 52 week high of $35.15.

Twilio (NYSE:TWLO) last released its earnings results on Wednesday, November 8th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $100.54 million for the quarter, compared to the consensus estimate of $92.50 million. Twilio had a negative net margin of 15.69% and a negative return on equity of 17.55%. The company’s revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. equities research analysts anticipate that Twilio will post -0.75 earnings per share for the current year.

In other Twilio news, CFO Lee Kirkpatrick sold 13,829 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $30.85, for a total transaction of $426,624.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Karyn Smith sold 5,213 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $31.23, for a total value of $162,801.99. The disclosure for this sale can be found here. In the last three months, insiders sold 47,347 shares of company stock valued at $1,416,011. 25.03% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Thompson Davis & CO. Inc. increased its position in Twilio by 0.7% during the 2nd 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 purchasing 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 purchasing an additional 469 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Twilio in the second quarter worth $159,000. Finally, 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 purchasing an additional 3,878 shares during the period. Hedge funds and other institutional investors own 60.13% of the company’s stock.

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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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