Diamonds and Dogs
Twilio (TWLO) up in the clouds. The cloud communications platform company is up 16% to new highs following better than expected earnings. Twilio beat by 9 cents as revenue rose 54.1% year over year to $147.8 million. The company issued upside guidance for the quarter and the full year as the company is turning profitable. One analyst said Twilio's market expansion from enabling communications for apps is driving a communications platform revolution for the global business market. Canaccord Genuity upgraded the stock with a $80 price target. Twilio does have a large short position of 5 million shares.
Zillow's (Z) new business model a work in progress. The online real estate listings company is down 16% to a 3 month low following earnings. Earnings actually beat expectations as revenue rose 21.9% year over year to $325.25 million, but then lowered guidance for the current quarter and full year. Zillow has expanded into the buying and selling of homes and mortgage lending. It's acquiring Mortgage Lenders of America, a transaction that's intended to streamline the process for buyers of Zillow-owned homes, but so far the results are a little "wobbly".