Why Twilio Sank on Tuesday Despite a Bullish Analyst Note
On an ugly day for the stock market, even positive news for the handsomest companies couldn't lift their share prices higher. So it was for cloud computing specialist Twilio (NYSE: TWLO), which despite a hopeful new analyst note saw its stock trade down by over 6% on the day.
KeyBanc analysts Thomas Blakey and Christopher Valley resumed their company's coverage of no less than 15 stocks in the infrastructure software segment; one of the prominent names was Twilio. The prognosticators have quite a favorable view of the stock, as they tagged it with an overweight (read: buy) recommendation at a price target of $96 per share.
The analysts wrote that they feel Twilio is "well positioned to capitalize on its engagement strategy, including selling an integrated customer data platform solution enabling better engagement and related ROI for customers and lifting company gross margins in the process."
Source Fool.com
