Twilio
stock is down sharply Wednesday after a double-downgrade by BofA Global Research. Analyst Michael Funk cut his rating on the cloud-based software company to Underperform from Buy, with a new price target of $80, down from $175.
Funk offers three reasons for his about-face on Twilio (ticker: TWLO), which provides tools to help companies communicate with customers via messaging, email, voice, and video.
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