Twilio Inc. (NYSE:TWLO) Rating Increased to Buy at Zacks Investment Research

Twilio Inc. (NYSE:TWLO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $34.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.47% from the company’s current price.

According to Zacks, “Twilio offers cloud-based software that helps developers make and receive phone calls, text messages and video chats. Estimates for the stock have remained unchanged, of late. The company’s key initiatives, which include product innovation, global expansion and acquisitions, are helping it in gaining customers, which bodes well for long-term growth. We opine that proliferation in cloud and mobile penetration across the globe will continue to fuel Twilio’s customer growth over the long run. However, its largest customer, Uber’s recent strategy on utilizing communication services will dent Twilio’s overall growth prospect throughout this year. Furthermore, intensifying competition in the communications market and growing prevalence of in-app push notifications are major concerns. Notably, the stock has underperformed the broader market in the last one year.”

Other research analysts have also recently issued research reports about the company. Canaccord Genuity lowered their price objective on Twilio from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Summit Redstone lowered their price objective on Twilio from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Drexel Hamilton reiterated a “buy” rating and set a $50.00 price objective on shares of Twilio in a research note on Tuesday, May 2nd. Vetr cut Twilio from a “strong-buy” rating to a “buy” rating and set a $36.20 price target for the company. in a research note on Thursday, April 27th. Finally, Summit Research decreased their price target on Twilio from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.97.

Shares of Twilio (NYSE TWLO) traded down 0.68% during midday trading on Wednesday, reaching $30.85. The company had a trading volume of 1,383,029 shares. The company’s market capitalization is $2.79 billion. The company has a 50-day moving average price of $27.89 and a 200 day moving average price of $28.85. Twilio has a one year low of $22.80 and a one year high of $70.96.

Twilio (NYSE:TWLO) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported ($0.14) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.14). The business had revenue of $87.37 million during the quarter, compared to analysts’ expectations of $83.57 million. Twilio had a negative return on equity of 14.26% and a negative net margin of 16.07%. Equities analysts anticipate that Twilio will post ($0.29) earnings per share for the current fiscal year.

In other Twilio news, Director Richard L. Dalzell sold 2,500 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $30.01, for a total transaction of $75,025.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Mcgeever purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were bought at an average cost of $23.19 per share, with a total value of $231,900.00. The disclosure for this purchase can be found here. Insiders sold 45,870 shares of company stock valued at $1,296,550 in the last ninety days.

Several institutional investors have recently made changes to their positions in TWLO. 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 valued at $170,000 after buying an additional 3,878 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Twilio by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 15,325 shares of the technology company’s stock valued at $442,000 after buying an additional 693 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Twilio during the first quarter valued at approximately $2,178,000. Finally, Nepsis Capital Management Inc. increased its position in shares of Twilio by 16.2% in the second quarter. Nepsis Capital Management Inc. now owns 221,210 shares of the technology company’s stock valued at $6,439,000 after buying an additional 30,899 shares during the last quarter. Institutional investors and hedge funds own 72.51% 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).