Twilio (NYSE:TWLO) Posts Earnings Results, Beats Estimates By $0.09 EPS

Twilio (NYSE:TWLOGet Rating) posted its quarterly earnings results on Thursday. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09, Briefing.com reports. The business had revenue of $943.35 million for the quarter, compared to analysts’ expectations of $920.97 million. Twilio had a negative net margin of 30.86% and a negative return on equity of 6.11%. The business’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.94) EPS. Twilio updated its Q3 2022 guidance to -$0.43–$0.37 EPS and its Q3 guidance to $(0.43)-$(0.37) EPS.

Twilio Trading Down 13.5 %

NYSE TWLO traded down $13.27 during mid-day trading on Friday, hitting $84.92. The company’s stock had a trading volume of 17,259,835 shares, compared to its average volume of 3,845,889. Twilio has a 52-week low of $77.14 and a 52-week high of $382.75. The stock’s fifty day simple moving average is $90.94 and its two-hundred day simple moving average is $129.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 8.10 and a quick ratio of 8.10. The firm has a market capitalization of $15.43 billion, a P/E ratio of -15.64 and a beta of 1.53.

Insider Activity at Twilio

In related news, insider Eyal Manor sold 853 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $82.69, for a total value of $70,534.57. Following the transaction, the insider now owns 160,358 shares in the company, valued at $13,260,003.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Twilio news, insider Eyal Manor sold 853 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $82.69, for a total value of $70,534.57. Following the completion of the sale, the insider now owns 160,358 shares of the company’s stock, valued at $13,260,003.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Khozema Shipchandler sold 1,765 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $81.10, for a total transaction of $143,141.50. Following the completion of the sale, the chief operating officer now directly owns 91,454 shares of the company’s stock, valued at approximately $7,416,919.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,242 shares of company stock worth $1,374,510. Company insiders own 4.96% of the company’s stock.

Institutional Trading of Twilio

A number of hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its position in shares of Twilio by 18.7% during the first quarter. Geneos Wealth Management Inc. now owns 692 shares of the technology company’s stock worth $114,000 after buying an additional 109 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in shares of Twilio by 8.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 1,729 shares of the technology company’s stock worth $285,000 after buying an additional 133 shares in the last quarter. Covestor Ltd boosted its holdings in Twilio by 419.5% in the first quarter. Covestor Ltd now owns 213 shares of the technology company’s stock worth $35,000 after purchasing an additional 172 shares during the period. Penserra Capital Management LLC boosted its holdings in Twilio by 19.6% in the first quarter. Penserra Capital Management LLC now owns 1,263 shares of the technology company’s stock worth $208,000 after purchasing an additional 207 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Twilio by 39.9% in the first quarter. Acadian Asset Management LLC now owns 1,178 shares of the technology company’s stock worth $192,000 after purchasing an additional 336 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group lowered their price objective on shares of Twilio from $245.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday. Mizuho lowered their price objective on shares of Twilio from $200.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird cut shares of Twilio from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $120.00 in a research note on Monday, May 16th. BTIG Research lowered their price objective on shares of Twilio from $270.00 to $230.00 in a research note on Thursday, May 5th. Finally, Sanford C. Bernstein initiated coverage on shares of Twilio in a research note on Tuesday, July 19th. They set a “market perform” rating and a $91.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.96.

About Twilio

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Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.

Further Reading

Earnings History for Twilio (NYSE:TWLO)

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