Oppenheimer analyst Ittai Kidron assigned a Buy rating to Twilio (TWLO) yesterday and set a price target of $300.00. The company’s shares closed last Tuesday at $283.76, close to its 52-week high of $288.81.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 36.3% and a 76.6% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Citrix Systems.
Currently, the analyst consensus on Twilio is a Strong Buy with an average price target of $242.37, a -15.0% downside from current levels. In a report issued on July 24, Wolfe Research also initiated coverage with a Buy rating on the stock with a $300.00 price target.
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Based on Twilio’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $365 million and GAAP net loss of $94.79 million. In comparison, last year the company earned revenue of $233 million and had a GAAP net loss of $36.5 million.
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Twilio, Inc. engages in the development of communications software, cloud-based platform, and services. Its platform consists of the following layers: engagement cloud, programmable communications cloud, and super network. The engagement cloud software addresses use cases like account security and contact centers and is a set of Application Programming Interfaces (APIs) that handles the higher-level communication logic needed for nearly every type of customer engagement. The Programmable communications cloud software is a set of APIs that enables developers to embed voice, messaging, and video capabilities into their applications. The super network is a software layer that allows customers’ software to communicate with connected devices globally. The company was founded by John Wolthuis, Jeffery G. Lawson, and Evan Cooke in March 2008 and is headquartered in San Francisco, CA.