Twilio Inc (TWLO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Twilio Inc (NASDAQ:TWLO) from a sell rating to a hold rating in a report published on Saturday morning.

According to Zacks, “Twilio Inc. provides Cloud Communications Platforms. The Company enables developers to build, scale and operate real-time communications within software applications. Its Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities. The Super Network is the software layer which allows its customers’ software to communicate with connected devices globally. Twilio Inc. is based in SAN FRANCISCO, United States. “

A number of other brokerages also recently issued reports on TWLO. William Blair reiterated an outperform rating on shares of Twilio in a report on Friday, March 17th. Northland Securities upgraded Twilio from a market perform rating to an outperform rating in a report on Monday, March 6th. Canaccord Genuity reiterated a buy rating and issued a $40.00 price target on shares of Twilio in a report on Friday, February 24th. Oppenheimer Holdings Inc. reiterated a buy rating on shares of Twilio in a report on Tuesday, February 14th. Finally, Argus reiterated a hold rating on shares of Twilio in a report on Tuesday, February 14th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $40.15.

Shares of Twilio (NASDAQ:TWLO) traded down 2.56% during trading on Friday, reaching $30.82. The company’s stock had a trading volume of 1,335,252 shares. The company has a 50 day moving average of $29.91 and a 200-day moving average of $33.45. The stock’s market cap is $2.70 billion. Twilio has a 12-month low of $23.66 and a 12-month high of $70.96.

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In other news, Director Scott Campbell Raney sold 22,058 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $32.17, for a total value of $709,605.86. Following the completion of the sale, the director now owns 22,058 shares of the company’s stock, valued at approximately $709,605.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lee Kirkpatrick sold 12,757 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $30.96, for a total value of $394,956.72. Following the completion of the sale, the chief financial officer now directly owns 17,292 shares of the company’s stock, valued at approximately $535,360.32. The disclosure for this sale can be found here. Insiders sold a total of 55,427 shares of company stock valued at $1,743,096 in the last three months.

Hedge funds have recently modified their holdings of the company. Parker Investment Management LLC purchased a new stake in shares of Twilio during the third quarter worth approximately $284,000. Nwam LLC purchased a new stake in shares of Twilio during the third quarter worth approximately $203,000. Concert Wealth Management Inc. purchased a new stake in shares of Twilio during the third quarter worth approximately $334,000. Wells Fargo & Company MN boosted its stake in shares of Twilio by 197.5% in the third quarter. Wells Fargo & Company MN now owns 43,919 shares of the technology company’s stock worth $2,826,000 after buying an additional 29,155 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Twilio during the third quarter worth approximately $1,249,000.

About Twilio

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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