Macquarie reiterated a Neutral rating and $69 price target on Twilio after the company reported the results of the operational review of its Segment business. The firm said that Twilio is “saying the right things” in the update, but going forward, its team will need to “put points on the board” with a “show, not tell” story. Macquarie added that it believes delivering on Segment’s march to profitability will be critical to fending off activist investors.
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