Twilio (TWLO) shares rose by more than 24% in recent Friday trading after an analyst upgrade and price target increases.
Baird upgraded the company's rating to outperform from neutral and raised its price target to $160 from $115.
RBC raised its price target on Twilio to $75 from $50 with an underperform rating, while Morgan Stanley lifted its price target on the company to $144 from $118 with an equalweight rating.
RBC, in a note Friday, pointed to "solid" profitability targets for Twilio as it rolled out new medium-term targets, while Morgan Stanley said it was "encouraged" that Twilio would post higher-than-expected profits as there were "multiple drivers" to growth.
Twilio's price target was also raised by UBS to $145 from $140 with a buy rating.
UBS analysts Taylor McGinnis and Radi Sultan said in a note that the company's optimism on double-digit topline growth, its runway to improve execution further, and its benefit from AI suggest that "further upside remains."
Twilio said Thursday it expects its Q4 non-GAAP diluted earnings to be above its guidance range of $0.95 to $1 per share and Q4 revenue to be about 11% higher than a year earlier.
Price: 138.73, Change: +25.33, Percent Change: +22.34
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