Scotiabank Issues Positive Forecast for Twilio (NYSE:TWLO) Stock Price

Twilio (NYSE:TWLO) had its price target lifted by Scotiabank from $90.00 to $160.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

Several other research analysts have also recently issued reports on TWLO. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price objective on shares of Twilio in a research report on Tuesday, October 8th. Oppenheimer upped their price target on Twilio from $90.00 to $160.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Twilio from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $50.00 target price on shares of Twilio in a research report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $142.00 price target (up from $94.00) on shares of Twilio in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.96.

Twilio Trading Up 19.9 %

Shares of TWLO stock opened at $135.98 on Friday. The firm has a fifty day moving average price of $108.41 and a 200 day moving average price of $80.68. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.12. Twilio has a 12 month low of $52.51 and a 12 month high of $141.40.

Insider Activity at Twilio

In other Twilio news, CEO Khozema Shipchandler sold 10,834 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.58, for a total value of $1,230,525.72. Following the completion of the transaction, the chief executive officer now directly owns 244,971 shares of the company’s stock, valued at approximately $27,823,806.18. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aidan Viggiano sold 6,552 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.55, for a total value of $743,979.60. Following the sale, the chief financial officer now directly owns 153,910 shares in the company, valued at $17,476,480.50. This trade represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,527 shares of company stock worth $2,844,655 over the last three months. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new position in Twilio during the 4th quarter valued at about $344,000. KBC Group NV lifted its holdings in shares of Twilio by 67.4% in the third quarter. KBC Group NV now owns 22,705 shares of the technology company’s stock valued at $1,481,000 after purchasing an additional 9,140 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Twilio in the third quarter valued at approximately $3,386,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Twilio by 167.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,612 shares of the technology company’s stock worth $953,000 after purchasing an additional 9,141 shares in the last quarter. Finally, Affinity Investment Advisors LLC acquired a new position in shares of Twilio during the 3rd quarter worth approximately $434,000. Institutional investors and hedge funds own 84.27% of the company’s stock.

Twilio Company Profile

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.