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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.