UPDATE: JPMorgan Downgrades Twilio (TWLO) to Neutral

April 23, 2020 4:38 AM EDT
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Price: $409.84 +1.07%

Rating Summary:
    30 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - April 23, 2020 4:43 AM EDT)

(updating comment)

JPMorgan analyst Mark Murphy downgraded Twilio (NYSE: TWLO) from Overweight to Neutral with a price target of $110.00.

The analyst comments "We are downgrading TWLO to Neutral from Overweight and maintaining our Dec 2020 price target of $110, which is based on an 11x EV/CY20E revenue multiple. The multiple reflects the high, sustained growth rate Twilio has been able to maintain despite acquiring a slower-growing business. The multiple is a few turns above other high-growth software vendors in investment mode. We believe a premium for Twilio is appropriate and accounts for the factors we believe are most relevant: superior growth plus margin profile, best-in-class CPaaS, self-service viral developer-centric platform, balanced against notable customer concentration."

For an analyst ratings summary and ratings history on Twilio click here. For more ratings news on Twilio click here.

Shares of Twilio closed at $107.89 yesterday.

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