Twilio is trading 4.31% lower at $286.74 after HSBC downgraded the stock from Hold to Reduce and set a $211 price target.
- HSBC said Meta’s native AI voice infrastructure could limit Twilio’s access to premium Muse-related interactions, leaving it with more commoditized communications volumes.
- The broader market is higher in pre-market, pointing to a primarily company-specific reaction rather than broad risk-off selling.