Twilio Inc (NYSE:TWLO) shares were volatile in Wednesday's after-hours session after the company reported better-than-expected financial results but issued an earnings outlook below estimates. The stock ultimately traded higher, but it's pulling back Thursday morning after analysts lowered price targets.
Twilio said first-quarter revenue increased 48% year-over-year to $875.4 million, which beat the $863.59 million estimate, according to data from Benzinga Pro. The company reported flat adjusted earnings, which beat the estimate for a loss of 22 cents per share.
Twilio said it expects second-quarter revenue to be between $912 million and $922 million versus the $916.04 million estimate. The company expects to record a second-quarter adjusted loss of 20 to 23 cents per share versus the estimate for a loss of 13 cents per share.
Analyst Assessment:
- Piper Sandler analyst Brent Bracelin maintained Twilio with an Overweight rating and lowered the price target from $270 to $220.
- JMP Securities analyst Patrick Walravens maintained Twilio with a Market Outperform rating and lowered the price target from $510 to $250.
- Needham analyst Ryan Koontz maintained Twilio with a Buy rating and lowered the price target from $350 to $200.
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TWLO 52-Week Range: $109.13 - $412.68
The stock was down 1.95% at $116.18 at press time.
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