What's Going On With Twilio Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst James Fish has downgraded Twilio Inc (NYSE:TWLO) stock rating from Overweight to Neutral and raised the price target from $56 to $71. The downgrade comes despite shares being up ~40% since Q1 due to bullish conference commentary, broader market moves, and potential activism. Fish cites macro-environment uncertainty, recent divestitures, and high sales estimates as reasons for the downgrade. He also sees limited upside for Twilio in the CPaaS space and believes the company needs to use its ~$3.5 billion net cash for further Software M&A.
July 17, 2023 | 3:07 pm
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Twilio's stock has been downgraded by Piper Sandler analyst James Fish from Overweight to Neutral, despite a ~40% increase in shares since Q1. The downgrade is due to macro-environment uncertainty, recent divestitures, and high sales estimates.
The downgrade of Twilio's stock by Piper Sandler analyst James Fish is likely to have a negative impact on the stock's price in the short term. The reasons cited for the downgrade, including macro-environment uncertainty, recent divestitures, and high sales estimates, are significant factors that could influence investor sentiment and lead to a decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100