Today's Research Reports on Trending Tickers: Twilio and Spherix
NEW YORK, NY / ACCESSWIRE / November 27, 2018 / Twilio shares were on the rise on an “outperform” rating reiterated from an Oppenheimer analyst last week while Spherix Incorporated shares popped on news that it has secured an ownership interest in Mellow Scooters, LLC.
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Twilio Inc. shares were up 8.42% at the close on Monday on a little over 7 million shares traded. The cloud communications platform as a service company saw a pop after Oppenheimer analyst Ittai Kidron reiterated an "outperform" rating on the stock this past Friday with a price target of $110. Kidron noted, "On Wednesday, Twilio filed a proxy in connection to its proposed acquisition of SendGrid. We’d note: (1) Twilio made four cash offers for SendGrid before internal forecasts were shared and a stock deal was deemed as offering superior value; (2) the deal’s strategic rationale centered on the value of a single platform, cross- selling opportunities, and acceleration of growth. Cost synergies weren’t highlighted; (3) Twilio’s internal forecasts were materially above consensus calling for 136.3% net dollar expansion rate vs. consensus of 125.7% (2019); (4) synergies math focused on FCF and points to strong revenue ramp in 2021/thereafter; (5) SendGrid’s projections were also well above consensus. Overall, we continue to see strong core business upside and compelling SendGrid deal rationale/synergies and remain bullish on Twilio. Maintain Outperform."
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Spherix Incorporated shares were up 12.50% yesterday but gave back 2.53% in after-hours trading after announcing that it has secured an ownership interest in Mellow Scooters, LLC, a company that allows anyone to own and operate a personal fleet of electric scooters and dockless bicycles to generate revenue. CEO of Spherix, Anthony Hayes, said, "Leading up to our acquisition of CBM BioPharma, Spherix had been incubating Mellow and we are proud of its advancements. Mellow is uniquely positioned to take advantage of a gap in the rapidly growing electric scooter and bike sharing business and we are proud to now own twenty five percent (25%) of Mellow. Chris Hoyle is an exceptional, bright entrepreneur and we are excited to support his vision. Our ownership interest in Mellow gives our shareholders the potential opportunity to participate in the electronic scooter and bike sharing industry, while Spherix continues its commitment to the acquisition of CBM and the advancement of its important cancer fighting drugs." The stock traded around 12.6 million shares yesterday compared to an average trading volume of just under 142,000 shares.
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SOURCE: The Market Edge