Twilio activist pressure good for shareholders, says RBC Capital

RBC Capital keeps an Underperform rating on Twilio with a $50 price target after the company announced the addition of Andy Stafman, a partner at Sachem Head Capital Management, to the board as part of a cooperation agreement. The firm says that while the announced agreement was light on details and it would like to see “more than just the promise of an analyst day,” the increased shareholder pressure is a positive for shareholders. RBC wants to see more, including a more robust plan to fix Twilio’s Segment and potential divestments, especially Flex.