Needham has decided to maintain its Buy rating of Twilio (NYSE:TWLO) and lower its price target from $350.00 to $200.00.
Shares of Twilio are trading down 3.58% over the last 24 hours, at $114.24 per share.
A move to $200.00 would account for a 75.07% increase from the current share price.
Twilio Inc (NYSE: TWLO) shares were volatile in Wednesday's after-hours session after the company reported better-than-expected financial results but issued an earnings outlook below estimates.
Twilio (NYSE:TWLO) reported quarterly sales of $875.40 million which beat the analyst consensus estimate of $863.59 million by 1.37 percent. This is a 48.38 percent increase over sales of $589.99 million the same period
Companies Reporting Before The Bell
• Seres Therapeutics (NASDAQ:MCRB) is estimated to report quarterly loss at $0.52 per share on revenue of $8.48 million.
Someone with a lot of money to spend has taken a bullish stance on Twilio (NYSE:TWLO).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Twilio (NYSE:TWLO) has outperformed the market over the past 5 years by 16.4% on an annualized basis producing an average annual return of 28.4%. Currently, Twilio has a market capitalization of $21.51 billion.
During Tuesday, 581 stocks hit new 52-week lows.
Interesting Highlights From Today's 52-Week Lows
Meta Platforms (NASDAQ:FB) was the biggest company on a market cap basis to set a new 52-week low.