Canaccord Genuity Raises Twilio Inc. (TWLO) Price Target to $38.00

Twilio Inc. (NYSE:TWLO) had its target price boosted by equities researchers at Canaccord Genuity from $32.00 to $38.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 24.47% from the company’s previous close.

Several other research analysts have also weighed in on TWLO. Vetr raised shares of Twilio from a “buy” rating to a “strong-buy” rating and set a $34.50 price objective on the stock in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $38.00 price objective (down previously from $50.00) on shares of Twilio in a research note on Thursday, May 4th. Northland Securities reissued an “outperform” rating and set a $30.00 price objective on shares of Twilio in a research note on Sunday, May 28th. JMP Securities reissued an “outperform” rating and set a $35.00 price objective (up previously from $33.00) on shares of Twilio in a research note on Tuesday, June 20th. Finally, Robert W. Baird lifted their price objective on shares of Twilio from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.36.

Twilio (NYSE:TWLO) traded up 9.296% during mid-day trading on Tuesday, reaching $33.368. 5,184,164 shares of the company traded hands. Twilio has a one year low of $22.80 and a one year high of $70.96. The firm’s market cap is $3.02 billion. The stock’s 50-day moving average price is $29.13 and its 200-day moving average price is $29.02. Twilio also saw some unusual options trading activity on Monday. Stock investors purchased 10,933 put options on the stock. This is an increase of approximately 795% compared to the typical daily volume of 1,222 put options.

Twilio (NYSE:TWLO) last issued its earnings results on Monday, August 7th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $95.90 million for the quarter, compared to analyst estimates of $86.28 million. Twilio had a negative net margin of 16.07% and a negative return on equity of 14.26%. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. Analysts forecast that Twilio will post ($0.29) earnings per share for the current fiscal year.

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In other Twilio news, General Counsel Karyn Smith sold 5,213 shares of Twilio stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $24.59, for a total value of $128,187.67. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeff Lawson purchased 100,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was bought at an average cost of $23.43 per share, for a total transaction of $2,343,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 45,870 shares of company stock worth $1,296,550.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised 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 last quarter. US Bancorp DE raised 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 last quarter. Great West Life Assurance Co. Can raised its position in shares of Twilio by 204.0% in the second quarter. Great West Life Assurance Co. Can now owns 7,297 shares of the technology company’s stock worth $212,000 after buying an additional 4,897 shares during the last quarter. Bristol Advisors LLC bought a new position in shares of Twilio during the second quarter worth $230,000. Finally, Carl Domino Inc bought a new position in shares of Twilio during the second quarter worth $233,000. 73.97% of the stock is currently owned by hedge funds and other institutional investors.

Twilio Company Profile

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).

Analyst Recommendations for Twilio (NYSE:TWLO)

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