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

Twilio (NYSE:TWLO) had its price target raised by equities research 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 brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 7.29% from the stock’s previous close.

A number of other research analysts have also weighed in on TWLO. Tigress Financial upped their price objective on Twilio from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of Twilio in a report on Tuesday, October 8th. Sanford C. Bernstein raised their price objective on shares of Twilio from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, August 27th. StockNews.com upgraded shares of Twilio from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Piper Sandler lifted their price target on shares of Twilio from $83.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Twilio currently has an average rating of “Hold” and an average target price of $79.55.

Twilio Trading Up 5.2 %

Shares of NYSE:TWLO opened at $84.82 on Thursday. Twilio has a fifty-two week low of $51.90 and a fifty-two week high of $85.59. The company has a quick ratio of 5.57, a current ratio of 5.57 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $65.80 and its 200-day simple moving average is $61.12.

Twilio (NYSE:TWLO) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.17. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Twilio had a positive return on equity of 0.83% and a negative net margin of 10.65%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.23) EPS. As a group, equities analysts predict that Twilio will post 0.54 EPS for the current year.

Insider Transactions at Twilio

In related news, CEO Khozema Shipchandler sold 11,073 shares of Twilio stock in a transaction on Monday, September 30th. The stock was sold at an average price of $65.03, for a total value of $720,077.19. Following the transaction, the chief executive officer now owns 278,134 shares in the company, valued at approximately $18,087,054.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dana Wagner sold 4,512 shares of Twilio stock in a transaction on Monday, October 7th. The shares were sold at an average price of $70.00, for a total transaction of $315,840.00. Following the transaction, the insider now owns 146,803 shares in the company, valued at approximately $10,276,210. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Khozema Shipchandler sold 11,073 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $65.03, for a total value of $720,077.19. Following the completion of the sale, the chief executive officer now owns 278,134 shares of the company’s stock, valued at approximately $18,087,054.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,906 shares of company stock worth $3,388,596 in the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Twilio

Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Twilio by 736.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,142,967 shares of the technology company’s stock worth $63,915,000 after acquiring an additional 1,006,391 shares during the period. Kodai Capital Management LP boosted its stake in shares of Twilio by 70.0% in the first quarter. Kodai Capital Management LP now owns 1,849,513 shares of the technology company’s stock valued at $113,098,000 after purchasing an additional 761,356 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Twilio by 258.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 874,647 shares of the technology company’s stock worth $57,044,000 after buying an additional 630,627 shares during the period. Panagora Asset Management Inc. lifted its holdings in Twilio by 286.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 716,551 shares of the technology company’s stock worth $40,707,000 after buying an additional 531,075 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new position in Twilio in the 1st quarter valued at about $31,745,000. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Twilio Company Profile

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.