Twilio Stock Tumbles On Report Of Data Breach, Company Says 'No Evidence' To Suggest It Happened: Retail Remains Bullish

Shares of Twilio Inc. (TWLO) fell nearly 11% in Thursday’s regular trading session amid reports of a data breach impacting the company, even as a wider market rout fueled a selloff across U.S. equities.

Twilio’s SendGrid data was reportedly breached, exposing the data of 848,000 customers, according to a report by Hackread. The hacker has reportedly put the data on sale for $2,000 and posted a sample to support their claim.

The breached data includes customer emails, phone numbers, addresses, social media profiles, and LinkedIn IDs.

SendGrid is owned by Twilio and it provides cloud-based email infrastructure to businesses.

However, Twilio denied that such a breach had taken place. In a statement to Hackread, the company said there is “no evidence” to suggest either Twilio or SendGrid were breached.

“To the best of our knowledge, after reviewing a sampling of this data, we believe that none of this data originated from SendGrid,” the company said, according to the report.

Retail sentiment on Stocktwits around Twilio remained unaffected, staying in the ‘bullish’ territory at the time of writing.

Earlier in February, analysts at Morgan Stanley upgraded Twilio to ‘Overweight’ from ‘Equal Weight’ and noted that the post-earnings selloff was overdone.

The brokerage has a price target of $160 on Twilio, higher than the Wall Street consensus of $142.95, according to Koyfin data. This implies an upside of 79% from Thursday’s closing price.

Of the 30 analysts covering the stock, 20 either suggest ‘Strong Buy’ or ‘Buy,’ seven have a ‘Hold’ rating, while three have either a ‘Sell’ or a Strong Sell’ recommendation.

Twilio’s stock has lost over 17% year-to-date.

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