Piper Sandler Boosts Twilio (NYSE:TWLO) Price Target to $79.00

Twilio (NYSE:TWLO - Get Free Report) had its price objective hoisted by stock analysts at Piper Sandler from $78.00 to $79.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Piper Sandler's price objective indicates a potential upside of 34.79% from the company's current price.

Several other analysts have also recently weighed in on TWLO. Stifel Nicolaus cut their price target on shares of Twilio from $70.00 to $60.00 and set a "hold" rating on the stock in a report on Wednesday, March 6th. Robert W. Baird decreased their target price on Twilio from $70.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays lifted their price target on Twilio from $60.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 24th. The Goldman Sachs Group boosted their target price on shares of Twilio from $69.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an "underperform" rating and set a $50.00 price target on shares of Twilio in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $68.59.

Twilio Price Performance

NYSE:TWLO traded down $4.76 during midday trading on Wednesday, hitting $58.61. The company had a trading volume of 8,831,348 shares, compared to its average volume of 3,228,315. The stock's fifty day moving average price is $60.72 and its 200-day moving average price is $64.38. Twilio has a 52-week low of $45.02 and a 52-week high of $78.16. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $10.67 billion, a PE ratio of -10.58 and a beta of 1.33.

Twilio (NYSE:TWLO - Get Free Report) last issued its earnings results on Wednesday, February 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.17. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.04 billion. Twilio had a negative net margin of 24.44% and a negative return on equity of 1.66%. As a group, research analysts expect that Twilio will post -0.11 earnings per share for the current year.

Insider Activity

In other Twilio news, insider Dana Wagner sold 1,666 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $62.92, for a total value of $104,824.72. Following the transaction, the insider now directly owns 130,456 shares in the company, valued at approximately $8,208,291.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Dana Wagner sold 1,666 shares of Twilio stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $62.92, for a total value of $104,824.72. Following the completion of the sale, the insider now directly owns 130,456 shares in the company, valued at $8,208,291.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Khozema Shipchandler sold 10,961 shares of the company's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.13, for a total transaction of $681,006.93. Following the completion of the sale, the chief executive officer now directly owns 335,982 shares of the company's stock, valued at approximately $20,874,561.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,958 shares of company stock valued at $1,910,447. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Twilio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Twilio in the 4th quarter valued at $179,739,000. Kodai Capital Management LP acquired a new stake in Twilio during the 4th quarter worth $82,558,000. Contrarius Investment Management Ltd acquired a new stake in shares of Twilio in the fourth quarter valued at about $80,043,000. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Twilio by 102.2% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 13,796 shares of the technology company's stock worth $807,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Twilio by 73.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,453 shares of the technology company's stock worth $70,965,000 after buying an additional 515,068 shares in the last quarter. Hedge funds and other institutional investors 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.