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The question now many investors are asking is if the stock is attractive at its current beaten up levels. Analysts at Argus doesn't necessarily think so.
Justification To Stay At Hold
Argus' Jim Kelleher maintains a Hold rating on Twilio's stock on Tuesday. The analyst acknowledged that he has a "favorable" view of the company's business prospects but investors shouldn't be "bottom fishing" as further downside could be seen in the stock.Kelleher explained that the loss of Uber as an exclusive client implies the company is "navigating a down-shift by a key customer" and will dampen its growth outlook in 2017.While the company argues that Uber's decision is an outlier this doesn't necessarily ease investor concerns that other customers will no longer exclusively use Twilio's products and services. As such, the company is "likely" to post losses for most quarters through the end of next year.
Bottom line, Twilio's long-term success depends on its ability to diversify its customer base, but at the end of the day, Twilio's lack of profitability and short public history is prompting the analyst to remain on the sidelines for the time being.
At time of publication, shares of Twilio were up 3.91 percent at $25.25.
Related Links:Twilio CEO Insider Buying Drives Shares HigherAnalyst: Twilio's Fundamentals 'Remain Strong' Despite Disappointing ReportCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.