2 Tech Stocks Making Big Post-Earnings Moves

Analysts are targeting both TWLO and FROG, with vastly different reactions

Deputy Editor
Feb 15, 2024 at 1:42 PM
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Wall Street's rally is in full swing today, even as January retail sales disappoint. Among the notable movers in the tech sector today are cloud stocks Twilio Inc (NYSE:TWLO) and JFrog Ltd (NASDAQ:FROG), bookending the tech-heavy Nasdaq Composite (IXIC) following the companies' respective earnings reports. 

Twilio Issues Dreary Current-Quarter Guidance

At last glance, Twilio stock is 15% lower to trade at $61.45, one of the worst stocks on the IXIC today. TWLO is trading at its lowest level since mid-November, after the consumer engagement company reported soft revenue guidance for the current quarter, as well as lower-than-expected total active users. The only silver lining was Twilio's fourth-quarter adjusted earnings and revenue that both beat Wall Street's expectations.

The shares are  down 19.1% year-over-year and 7.2% in 2024. The equity is now back below its 100-day moving average for the first time since mid-November. No less than four analysts cut their price targets, while Northland Capital downgraded Twilio stock to "market perform." More downgrades and/or price target cuts could be on the way considering 14 of 30 covering brokerages still rate TWLO a "buy" or better, and the 12-month consensus target price of $73.14 is a nearly 19% premium to current levels.

JFrog Stock Leaps to More Than 2-Year Highs

FROG is up 25.6% to trade at $46.59, one of the best stocks on the IXIC. The software development firm turned in adjusted earnings of 19 cents per share on revenue of $97 million, both of which were well above analyst' expectations. The equity is trading at its highest mark since July 2021, and now boasts a 109% nine-month lead thanks to today's bull gap. No less than 10 brokerages lifted their price targets, including Needham who moved all the way up to $55 to imply an 18% upside to JFrog stock's current perch. 

Short-term options traders are cheering the bullish price action; FROG's Schaeffer's put/call open interest ratio (SOIR) of 0.12 that sits lower than all other reading from the past year.

 

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