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Twilio downgraded to Hold from Buy at Jefferies
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Twilio downgraded to Hold from Buy at Jefferies

Jefferies analyst Samad Samana downgraded Twilio to Hold from Buy with a price target of $50, down from $110. The analyst notes the stock dove sharply on the updated outlook provided at its Analyst Day. He noted his disappointment then, but took time to reassess his view given the bad news was priced in quickly. After further consideration, Samana is moving to the sidelines as he sees sustained headwinds to near-term growth, does not have high conviction the Software rev can grow 30%-plus, and does not see the medium-term growth and margin outlook as particularly attractive.

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