Wolfe Research raised the firm’s price target on Twilio to $75 from $65 and keeps an Outperform rating on the shares after the company announced its third workforce reduction. The analyst now sees upside to 2024 margins and higher potential for a divestiture of the Data & Apps business, leading to a larger share buyback.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TWLO:
- Twilio (NYSE:TWLO) to Trim Headcount by 5%
- Twilio to end-of-life Twilio Programmable Video as standalone product
- Twilio CEO says has ‘underachieved’ on growth in TD&A
- Twilio reaffirms guidance for Q4, FY23 provided on November 8
- Twilio to cut workforce by about 5%
Questions or Comments about the article? Write to editor@tipranks.com