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Wells Fargo Thinks Twilio’s Stock is Going to Recover

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In a report issued on January 24, Michael Turrin from Wells Fargo maintained a Buy rating on Twilio (TWLOResearch Report), with a price target of $400.00. The company’s shares closed last Friday at $188.23, close to its 52-week low of $172.61.

According to TipRanks.com, Turrin has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.4% and a 24.5% success rate. Turrin covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zoom Video Communications, and ZoomInfo Technologies.

Currently, the analyst consensus on Twilio is a Strong Buy with an average price target of $341.65, representing an 89.8% upside. In a report issued on January 21, BTIG also initiated coverage with a Buy rating on the stock with a $260.00 price target.

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Based on Twilio’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $740 million and GAAP net loss of $224 million. In comparison, last year the company earned revenue of $448 million and had a GAAP net loss of $117 million.

Based on the recent corporate insider activity of 142 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TWLO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2008, California-based Twilio, Inc. provides a cloud communications platform that allows software developers to programmatically make and receive phone calls, send and receive text messages, and perform other communication functions using its web service APIs (Application Programming Interfaces).

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