Fly News Breaks for October 31, 2019
Oct 31, 2019 | 07:35 EDT
Canaccord analyst Richard Davis said Twilio reported solid Q3 results but its conservative and confusing guidance led to a pullback. The analyst said the company made a $5M mistake in billing which he believes is not systemic. He said the stock is kind of cheap on an enterprise value basis but that is misleading because gross margins are low and super expensive on a future multiple .He did say the company executed well on a revenue basis and that the results were solid but the report was marred by a "silly" mistake. Given the stock's pullback, he now sees it as compelling for longer-term investors. Davis maintained his Buy rating and lowered his price target to $125 from $155 on Twilio shares.
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