Twilio shares are trading lower amid weakness in tech stocks. The company announced an additional $2 billion share repurchase authorization, affirmed its Q1 guidance, and issued guidance for FY24 and FY25.
Portfolio Pulse from Benzinga Newsdesk
Twilio shares are trading lower due to overall weakness in tech stocks, despite the company announcing a $2 billion share repurchase authorization and affirming its Q1 guidance. Twilio also provided guidance for FY24 and FY25.
March 05, 2024 | 7:46 pm
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NEGATIVE IMPACT
Twilio's stock is trading lower due to a broader downturn in tech stocks, even after announcing a significant share repurchase program and maintaining its Q1 outlook. The company also provided future guidance for FY24 and FY25.
The short-term impact on Twilio's stock is negative due to the current weakness in the tech sector overshadowing the positive news of a $2 billion share repurchase authorization and stable guidance. The announcement of future guidance indicates the company's confidence in its growth trajectory, but the immediate market reaction is influenced more by the broader tech stock downturn.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100