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Why Twilio Stock Fell Hard Today

TheMotleyFool

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Why Twilio Stock Fell Hard TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7835e381-fcae-4834-ba93-4708292dc055.png

Shares of Twilio (NYSE: TWLO), a cloud-based communications software company, sank today after an analyst downgraded the company's stock and cut his price target for Twilio's shares by more than half.

Twilio will report its third-quarter results after the bell tomorrow, but investors weren't waiting around for it. The tech stock was down 7.5% as of 3 p.m. ET.

Bank of America analyst Michael Funk, who was previously bullish on Twilio, downgraded the company's stock rating to underperform and cut the price target for the stock to $85, a 51% decrease from the previous price target of $175.

Source Fool.com

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