Why Twilio Stock Dived by 10% on Wednesday

Twilio (NYSE: TWLO) had a hump day to forget. The specialty-tech company saw its share price decline by slightly over 10%, following a price-target cut from an otherwise bullish analyst tracking the stock.

Wednesday morning, Oppenheimer's Ittai Kidron reduced said Twilio price target substantially, to $380 per share from the previous (and much higher) level of $550. Despite that, the Oppenheimer prognosticator is keeping the outperform (i.e., buy) recommendation on the stock.

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Source Fool.com