Twilio (TWLO) Shares Gap Up Following Analyst Upgrade

Twilio Inc (NYSE:TWLO)’s share price gapped up prior to trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $40.00 to $42.00. The stock had previously closed at $23.79, but opened at $26.44. JPMorgan Chase & Co. currently has an overweight rating on the stock. Twilio shares last traded at $30.72, with a volume of 13294794 shares trading hands.

TWLO has been the topic of several other research reports. BidaskClub downgraded Twilio from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. Northland Securities set a $36.00 target price on Twilio and gave the company a “buy” rating in a research report on Monday, November 13th. KeyCorp reaffirmed a “hold” rating on shares of Twilio in a research report on Tuesday, December 5th. Zacks Investment Research downgraded Twilio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $47.00 target price on shares of Twilio in a research report on Monday, December 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Twilio presently has an average rating of “Buy” and a consensus target price of $36.75.

In related news, CFO Lee Kirkpatrick sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $25.89, for a total value of $181,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Karyn Smith sold 5,213 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $25.50, for a total value of $132,931.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,222 shares of company stock valued at $850,128. 25.03% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TWLO. Delpha Capital Management LLC bought a new stake in Twilio during the fourth quarter worth $101,000. Cerebellum GP LLC bought a new stake in Twilio during the fourth quarter worth $117,000. SeaCrest Wealth Management LLC bought a new stake in Twilio during the fourth quarter worth $123,000. Ameritas Investment Partners Inc. bought a new stake in Twilio during the second quarter worth $159,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Twilio during the fourth quarter worth $159,000. Hedge funds and other institutional investors own 59.99% of the company’s stock.

The company has a market cap of $2,399.22, a P/E ratio of -48.00 and a beta of 2.62.

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Twilio Company Profile

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).

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