Benzinga - Twilio Inc (NYSE: TWLO) reported upbeat first-quarter results, but issued lukewarm top-line guidance.
Twilio said first-quarter revenue increased 15% year-over-year to $1.1 billion, which beat consensus estimates of $1 billion. The company reported quarterly earnings of 47 cents per share, which beat estimates of 21 cents per share.
Twilio expects second-quarter revenue to be in the range of $980 million to $990 million versus estimates of $1.05 billion. The company expects second-quarter earnings to be between 27 cents and 31 cents per share versus estimates of 29 cents per share.
Twilio shares dropped 14% to $48.24 on Wednesday.
These analysts made changes to their price targets on Twilio after the company reported quarterly results.
- Piper Sandler cut the price target on Twilio from $83 to $56. Piper Sandler analyst James Fish maintained an Overweight rating.
- Bernstein lowered Twilio price target from $77 to $58. Bernstein analyst Peter Weed maintained a Market Perform rating on the stock.
- Morgan Stanley cut Twilio price target from $82 to $65. Morgan Stanley analyst Meta Marshall maintained an Overweight rating on the stock.
- Needham lowered the price target on Twilio from $88 to $65. Needham analyst Ryan Koontz maintained the stock with a Buy.
- Wells Fargo slashed Twilio price target from $70 to $60. Wells Fargo analyst Michael Turrin maintained the stock with an Equal-Weight.
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