Wells Fargo & Company Forecasts Strong Price Appreciation for Twilio (NYSE:TWLO) Stock

Twilio (NYSE:TWLO) had its price target upped by equities researchers at Wells Fargo & Company from $75.00 to $80.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 5.70% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Twilio from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Needham & Company LLC increased their price objective on Twilio from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler lifted their target price on Twilio from $83.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein upped their price target on Twilio from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Tuesday, August 27th. Finally, JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Twilio in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Twilio presently has a consensus rating of “Hold” and an average target price of $79.55.

Twilio Stock Performance

Shares of TWLO opened at $84.84 on Friday. The stock has a 50 day moving average of $65.80 and a 200 day moving average of $61.13. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of -33.01, a PEG ratio of 4.59 and a beta of 1.32. Twilio has a 12 month low of $51.90 and a 12 month high of $85.59. The company has a current ratio of 5.57, a quick ratio of 5.57 and a debt-to-equity ratio of 0.11.

Twilio (NYSE:TWLO) last released its earnings results on Thursday, August 1st. The technology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. Twilio had a positive return on equity of 0.83% and a negative net margin of 10.65%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business posted ($0.23) EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Twilio will post 0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Dana Wagner sold 591 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $60.87, for a total transaction of $35,974.17. Following the sale, the insider now owns 156,737 shares in the company, valued at approximately $9,540,581.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Dana Wagner sold 591 shares of Twilio stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $60.87, for a total transaction of $35,974.17. Following the completion of the transaction, the insider now directly owns 156,737 shares in the company, valued at approximately $9,540,581.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aidan Viggiano sold 1,961 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $60.69, for a total value of $119,013.09. Following the completion of the sale, the chief financial officer now owns 186,501 shares in the company, valued at $11,318,745.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,906 shares of company stock worth $3,388,596 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Twilio

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SouthState Corp grew its holdings in shares of Twilio by 159.1% during the second quarter. SouthState Corp now owns 500 shares of the technology company’s stock valued at $28,000 after buying an additional 307 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Twilio during the second quarter valued at $29,000. GAMMA Investing LLC boosted its position in shares of Twilio by 70.6% during the second quarter. GAMMA Investing LLC now owns 638 shares of the technology company’s stock valued at $36,000 after buying an additional 264 shares during the last quarter. Lynx Investment Advisory bought a new stake in Twilio in the 2nd quarter worth about $45,000. Finally, HHM Wealth Advisors LLC lifted its stake in Twilio by 43.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 860 shares of the technology company’s stock valued at $49,000 after acquiring an additional 260 shares during the period. 84.27% of the stock is currently owned by institutional investors.

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.