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Twilio (TWLO) Stock Up Following Q3 Preliminary Results
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Shares of Twilio Inc. (TWLO - Free Report) rebounded less than 1% to close at $52.44 on Oct 11, after the company announced its preliminary third-quarter 2016 financial results. Shares had plunged 14.1% on Oct 10, after the company announced additional secondary stock offering worth $400 million on Oct 7.
On a year-to-date basis, Twilio shares are up almost 82.2%. The company is slated to release its third-quarter 2016 results on Nov 3.
New Guidance
Twilio now estimates revenues to be in the range of $70.25 million to $71.25 million, up from the previous guidance of $63 million to $65 million. The company had reported revenues of $44.3 million in the year-ago quarter.
The company now expects its non-GAAP gross profit to be in the range of $39.75 million to $40.25 million compared with the year-ago quarter figure of $24.7 million.
Non-GAAP gross margin is estimated to remain flat year over year at 56%.
Twilio now expects non-GAAP net loss per share to be 4 cents to 5 cents compared with non-GAAP net loss of 7 cents in the year-ago quarter. In this regard, we note that the Zacks Consensus Estimate stands at a loss of 15 cents.
Secondary Stock Offering
Twilio announced that some of its executive officers and directors are selling shares of Class A common stock. The company intends to sell stocks worth $50 million initially. Another $350 million worth of stocks are to be sold by other selling stockholders, totaling $400 million worth of common stocks.
Notably, earnings estimates for Hewlett Packard for the current year and the next have remained stable at $1.92 and $2.05, respectively, over the last 7 days.
Estimates for Box for the current year have narrowed from a loss of $1.32 to $1.29 over the last 7 days. Similarly, estimates for the next year have narrowed down to a loss of $1.06 from $1.08 over the last 7 days.
On the other hand, estimates remained steady for Workiva for the current year and the next at a loss of $1.33 and $1.22, respectively over the last 7 days.
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Twilio (TWLO) Stock Up Following Q3 Preliminary Results
Shares of Twilio Inc. (TWLO - Free Report) rebounded less than 1% to close at $52.44 on Oct 11, after the company announced its preliminary third-quarter 2016 financial results. Shares had plunged 14.1% on Oct 10, after the company announced additional secondary stock offering worth $400 million on Oct 7.
On a year-to-date basis, Twilio shares are up almost 82.2%. The company is slated to release its third-quarter 2016 results on Nov 3.
New Guidance
Twilio now estimates revenues to be in the range of $70.25 million to $71.25 million, up from the previous guidance of $63 million to $65 million. The company had reported revenues of $44.3 million in the year-ago quarter.
The company now expects its non-GAAP gross profit to be in the range of $39.75 million to $40.25 million compared with the year-ago quarter figure of $24.7 million.
Non-GAAP gross margin is estimated to remain flat year over year at 56%.
Twilio now expects non-GAAP net loss per share to be 4 cents to 5 cents compared with non-GAAP net loss of 7 cents in the year-ago quarter. In this regard, we note that the Zacks Consensus Estimate stands at a loss of 15 cents.
Secondary Stock Offering
Twilio announced that some of its executive officers and directors are selling shares of Class A common stock. The company intends to sell stocks worth $50 million initially. Another $350 million worth of stocks are to be sold by other selling stockholders, totaling $400 million worth of common stocks.
TWILIO INC-A Price
TWILIO INC-A Price | TWILIO INC-A Quote
Zacks Rank & Key Picks
At present, Twilio has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology space are Hewlett Packard Enterprise Company (HPE - Free Report) , Box, Inc. (BOX - Free Report) and Workiva Inc. (WK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Notably, earnings estimates for Hewlett Packard for the current year and the next have remained stable at $1.92 and $2.05, respectively, over the last 7 days.
Estimates for Box for the current year have narrowed from a loss of $1.32 to $1.29 over the last 7 days. Similarly, estimates for the next year have narrowed down to a loss of $1.06 from $1.08 over the last 7 days.
On the other hand, estimates remained steady for Workiva for the current year and the next at a loss of $1.33 and $1.22, respectively over the last 7 days.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>