Macquarie lowered the firm’s price target on Twilio to $63 from $69 and keeps a Neutral rating on the shares. The company’s Q1 report is a reminder that “turnarounds are slow, progress can only be measured in stages, and this story is still in its first,” the analyst tells investors in a research note. The firm says with the Segment restructuring just underway and volume inflection yet to come, it is not surprised by the 7% post-earnings selloff.
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