Twilio Inc (NASDAQ:TWLO) dropped 3.5% on Tuesday . The company traded as low as $39.20 and last traded at $39.61, with a volume of 1,527,049 shares changing hands. The stock had previously closed at $41.03.

TWLO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Twilio in a report on Monday. They issued a “neutral” rating and a $39.00 price target for the company. They noted that the move was a valuation call. Pacific Crest initiated coverage on shares of Twilio in a report on Monday. They issued a “sector weight” rating for the company. JMP Securities initiated coverage on shares of Twilio in a report on Monday. They issued a “market perform” rating for the company. Goldman Sachs Group Inc. initiated coverage on shares of Twilio in a report on Monday. They issued a “neutral” rating and a $33.00 price target for the company. They noted that the move was a valuation call. Finally, Canaccord Genuity initiated coverage on Twilio in a report on Monday. They set a “hold” rating and a $40.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $37.33.

The company’s market cap is $691.23 million. The stock has a 50 day moving average of $35.74 and a 200-day moving average of $35.74.

Twilio Inc offers Cloud Communications Platforms. The Company enables developers to build, scale and operate real-time communications within software applications. It Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications via its Application Programming Interfaces.

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