Needham & Company LLC Increases Twilio (NYSE:TWLO) Price Target to $91.00

Twilio (NYSE:TWLO) had its price target lifted by analysts at Needham & Company LLC from $71.00 to $91.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 12.08% from the company’s previous close.

TWLO has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on Twilio from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Barclays decreased their price target on Twilio from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Twilio from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Twilio in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on Twilio from $83.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.76.

Twilio Trading Up 15.0 %

NYSE:TWLO opened at $81.19 on Thursday. The firm has a market cap of $13.90 billion, a PE ratio of -20.32, a price-to-earnings-growth ratio of 4.01 and a beta of 1.35. The stock has a fifty day moving average price of $64.88 and a 200 day moving average price of $60.80. Twilio has a 12-month low of $49.86 and a 12-month high of $81.97. The company has a current ratio of 5.57, a quick ratio of 5.57 and a debt-to-equity ratio of 0.11.

Twilio (NYSE:TWLO) last released its earnings results on Thursday, August 1st. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.17. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Twilio had a negative return on equity of 0.22% and a negative net margin of 14.02%. Twilio’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share. Sell-side analysts anticipate that Twilio will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Twilio

In related news, insider Dana Wagner sold 1,989 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $60.69, for a total value of $120,712.41. Following the transaction, the insider now owns 157,328 shares in the company, valued at $9,548,236.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Twilio news, CFO Aidan Viggiano sold 1,961 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $60.69, for a total transaction of $119,013.09. Following the transaction, the chief financial officer now owns 186,501 shares in the company, valued at approximately $11,318,745.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dana Wagner sold 1,989 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $60.69, for a total value of $120,712.41. Following the transaction, the insider now owns 157,328 shares in the company, valued at $9,548,236.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,906 shares of company stock worth $3,388,596 in the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Twilio

Institutional investors and hedge funds have recently modified their holdings of the company. SouthState Corp grew its holdings in shares of Twilio by 159.1% in the 2nd quarter. SouthState Corp now owns 500 shares of the technology company’s stock worth $28,000 after acquiring an additional 307 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Twilio in the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC lifted its stake in Twilio by 70.6% in the 2nd quarter. GAMMA Investing LLC now owns 638 shares of the technology company’s stock valued at $36,000 after buying an additional 264 shares in the last quarter. Lynx Investment Advisory purchased a new stake in Twilio in the 2nd quarter valued at approximately $45,000. Finally, HHM Wealth Advisors LLC lifted its stake in Twilio by 43.3% in the 2nd quarter. HHM Wealth Advisors LLC now owns 860 shares of the technology company’s stock valued at $49,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.

About Twilio

Twilio Inc, together with its subsidiaries, provides customer engagement platform solutions in the United States and internationally. It operates through two segments, Twilio Communications and Twilio Segment. The company provides various application programming interfaces and software solutions for communications between customers and end users, including messaging, voice, email, flex, marketing campaigns, and user identity and authentication.