Needham & Company LLC Initiates Coverage on Twilio (NYSE:TWLO)

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Needham & Company LLC assumed coverage on shares of Twilio (NYSE:TWLO) in a research report issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $165.00 price target on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 12.63% from the stock’s previous close.

Several other research analysts have also recently commented on TWLO. Guggenheim initiated coverage on Twilio in a research report on Monday, March 11th. They set a “buy” rating and a $140.00 price target for the company. Morgan Stanley began coverage on Twilio in a research report on Friday, March 15th. They issued an “equal weight” rating and a $130.00 price objective for the company. Zacks Investment Research cut Twilio from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Deutsche Bank raised their price objective on Twilio from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, KeyCorp raised their price objective on Twilio from $132.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $139.52.

Shares of NYSE TWLO opened at $146.50 on Tuesday. Twilio has a 52 week low of $53.17 and a 52 week high of $148.80. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.18. The company has a market cap of $17.77 billion, a P/E ratio of -183.13 and a beta of 1.30.

Twilio (NYSE:TWLO) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.40). Twilio had a negative net margin of 17.87% and a negative return on equity of 9.50%. The company had revenue of $233.00 million for the quarter, compared to analyst estimates of $223.45 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 80.5% on a year-over-year basis. As a group, equities research analysts anticipate that Twilio will post -1.4 EPS for the current year.

In other news, CEO Jeff Lawson sold 20,830 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $121.35, for a total transaction of $2,527,720.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Karyn Smith sold 24,491 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $138.56, for a total value of $3,393,472.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,232 shares of company stock worth $14,768,888. 10.85% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in TWLO. BlackRock Inc. increased its stake in shares of Twilio by 26.4% during the first quarter. BlackRock Inc. now owns 4,956,403 shares of the technology company’s stock worth $640,268,000 after purchasing an additional 1,034,624 shares during the period. Coatue Management LLC bought a new position in shares of Twilio during the fourth quarter worth approximately $86,056,000. Jennison Associates LLC bought a new position in shares of Twilio during the first quarter worth approximately $123,478,000. FMR LLC increased its stake in shares of Twilio by 1,128.3% during the first quarter. FMR LLC now owns 973,397 shares of the technology company’s stock worth $125,743,000 after purchasing an additional 894,151 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of Twilio during the fourth quarter worth approximately $72,497,000. Institutional investors own 73.04% of the company’s stock.

About Twilio

Twilio Inc provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications in the United States and internationally. The company's programmable communications cloud provides a set of application programming interfaces that enable developers to embed voice, messaging, and video capabilities into their applications.

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