Needham & Company LLC Reaffirms "Buy" Rating for Twilio (NYSE:TWLO)

Needham & Company LLC restated their buy rating on shares of Twilio (NYSE:TWLO - Free Report) in a research report released on Wednesday, Benzinga reports. The brokerage currently has a $71.00 price objective on the technology company's stock.

TWLO has been the topic of a number of other reports. HSBC lowered Twilio from a hold rating to a reduce rating and decreased their target price for the stock from $62.00 to $61.00 in a research note on Wednesday, February 14th. The Goldman Sachs Group raised their target price on shares of Twilio from $69.00 to $70.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. StockNews.com lowered shares of Twilio from a buy rating to a hold rating in a report on Wednesday, March 6th. Royal Bank of Canada reaffirmed an underperform rating and set a $50.00 price objective on shares of Twilio in a report on Wednesday, March 6th. Finally, Wells Fargo & Company reduced their target price on Twilio from $70.00 to $60.00 and set an equal weight rating on the stock in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $68.59.

Twilio Price Performance

Shares of TWLO traded down $4.76 during midday trading on Wednesday, hitting $58.61. 8,831,348 shares of the company traded hands, compared to its average volume of 3,228,315. The stock has a 50-day moving average of $60.72 and a 200-day moving average of $64.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.64 and a quick ratio of 6.64. Twilio has a one year low of $45.02 and a one year high of $78.16. The firm has a market cap of $10.67 billion, a P/E ratio of -10.58 and a beta of 1.33.

Twilio (NYSE:TWLO - Get Free Report) last posted 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 business 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, sell-side analysts predict that Twilio will post -0.11 EPS for the current fiscal year.

Insider Transactions at Twilio

In other Twilio news, CFO Aidan Viggiano sold 3,375 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $60.79, for a total value of $205,166.25. Following the completion of the sale, the chief financial officer now owns 231,036 shares in the company, valued at approximately $14,044,678.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Twilio news, CFO Aidan Viggiano sold 3,375 shares of the company's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $60.79, for a total value of $205,166.25. Following the completion of the transaction, the chief financial officer now directly owns 231,036 shares in the company, valued at approximately $14,044,678.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Khozema Shipchandler sold 10,961 shares of the firm's stock in a transaction dated 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 $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 worth $1,910,447. Company insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Synovus Financial Corp grew its holdings in Twilio by 6.9% in the third quarter. Synovus Financial Corp now owns 4,764 shares of the technology company's stock worth $279,000 after purchasing an additional 306 shares during the period. Pearl River Capital LLC increased its position in Twilio by 363.2% during the 3rd quarter. Pearl River Capital LLC now owns 30,641 shares of the technology company's stock valued at $1,793,000 after buying an additional 24,026 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Twilio by 10.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,185,244 shares of the technology company's stock valued at $69,372,000 after buying an additional 113,042 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Twilio in the third quarter worth $4,738,000. Finally, New York Life Investment Management LLC grew its stake in shares of Twilio by 70.9% in the third quarter. New York Life Investment Management LLC now owns 22,119 shares of the technology company's stock worth $1,295,000 after acquiring an additional 9,180 shares during the last quarter. 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.