Twilio (NYSE:TWLO) Announces Earnings Results, Beats Estimates By $0.09 EPS

Twilio (NYSE:TWLOGet Rating) issued its quarterly earnings results on Thursday. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09, Briefing.com reports. The firm had revenue of $943.35 million for the quarter, compared to analysts’ expectations of $920.97 million. Twilio had a negative return on equity of 6.11% and a negative net margin of 30.86%. Twilio’s revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.94) EPS. Twilio updated its Q3 2022 guidance to -$0.43–$0.37 EPS and its Q3 guidance to $(0.43)-$(0.37) EPS.

Twilio Stock Performance

Shares of TWLO stock traded down $13.27 during trading hours on Friday, reaching $84.92. 17,259,835 shares of the company’s stock were exchanged, compared to its average volume of 3,845,889. Twilio has a fifty-two week low of $77.14 and a fifty-two week high of $382.75. The stock has a market capitalization of $15.43 billion, a P/E ratio of -15.64 and a beta of 1.53. The business has a fifty day moving average price of $90.94 and a 200-day moving average price of $129.29. The company has a quick ratio of 8.10, a current ratio of 8.10 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

Several equities analysts have weighed in on TWLO shares. Cowen lowered their target price on Twilio from $150.00 to $125.00 in a research note on Friday. Atlantic Securities cut Twilio from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $240.00 to $100.00 in a research note on Friday. Morgan Stanley lowered their target price on Twilio from $240.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Robert W. Baird cut Twilio from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $120.00 in a research note on Monday, May 16th. Finally, Jefferies Financial Group lowered their target price on Twilio from $175.00 to $130.00 in a research note on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.96.

Insider Transactions at Twilio

In other news, COO Khozema Shipchandler sold 3,600 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $105.78, for a total transaction of $380,808.00. Following the completion of the transaction, the chief operating officer now directly owns 96,549 shares in the company, valued at $10,212,953.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Twilio news, COO Khozema Shipchandler sold 3,600 shares of Twilio stock in a transaction on Monday, May 16th. The shares were sold at an average price of $105.78, for a total transaction of $380,808.00. Following the sale, the chief operating officer now owns 96,549 shares in the company, valued at $10,212,953.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eyal Manor sold 853 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $82.69, for a total transaction of $70,534.57. Following the transaction, the insider now directly owns 160,358 shares of the company’s stock, valued at $13,260,003.02. The disclosure for this sale can be found here. Insiders sold a total of 14,242 shares of company stock worth $1,374,510 over the last three months. 4.96% of the stock is currently owned by insiders.

Institutional Trading of Twilio

Institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its position in shares of Twilio by 419.5% during the 1st quarter. Covestor Ltd now owns 213 shares of the technology company’s stock valued at $35,000 after acquiring an additional 172 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Twilio by 18.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 692 shares of the technology company’s stock valued at $114,000 after acquiring an additional 109 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Twilio by 39.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,178 shares of the technology company’s stock valued at $192,000 after acquiring an additional 336 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Twilio by 19.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,263 shares of the technology company’s stock valued at $208,000 after acquiring an additional 207 shares in the last quarter. Finally, Fund Management at Engine No. 1 LLC bought a new position in Twilio during the 1st quarter valued at about $235,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

About Twilio

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Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.

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Earnings History for Twilio (NYSE:TWLO)

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