Twilio Inc (NYSE: TWLO) shares are trading lower Friday after the company reported better-than-expected financial results, but issued guidance below analyst estimates. Several analysts also downgraded and cut price targets on the stock following the company's results.
Citigroup raised the price target on DoorDash, Inc. (NYSE: DASH) from $118 to $129. However, Citigroup analyst Ronald Josey maintained DoorDash with a Buy. DoorDash shares jumped 10.5% to $89.91 in pre-market trading.
Twilio (NYSE:TWLO) reported its Q2 earnings results on Thursday, August 4, 2022 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
Twilio beat estimated earnings by 47.62%, reporting an EPS of $-0.11 versus an estimate of $-0.21.