Piper Sandler lowered the firm’s price target on Twilio to $77 from $79 and keeps an Overweight rating on the shares. Following Piper’s latest round of checks for the communication software space, the analyst updated valuations for the space and cutting numbers to reflect the weaker spending environment. The firm cites weaker than expected checks across the space, and concerns around second half of 2024 and 2025 implications for the target cuts.
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