On October 30, Twilio fell 15.67% Overnight, trading at $204.64 per share, with turnover of $2042.56. The move followed the company’s latest quarterly results, even though both earnings and revenue came in above market expectations and fourth-quarter guidance was issued above consensus on revenue.

Twilio reported third-quarter adjusted diluted EPS of $1.65 on revenue of $1.56 billion, versus analyst expectations of $1.47 and $1.52 billion. Revenue rose from $1.30 billion a year earlier. For the fourth quarter, the company guided adjusted EPS to $1.48-$1.53 and revenue to $1.60-$1.61 billion, compared with consensus estimates of $1.49 and $1.58 billion. Ahead of the report, several brokers had raised price targets, including Wells Fargo to $300 and Oppenheimer to $325, but that bullish positioning did not prevent the stock from falling sharply after the release.

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