KeyBanc analyst Brent Bracelin maintained a Buy rating on Twilio Inc (NYSE: TWLO) yesterday and set a price target of $99. The company’s shares closed yesterday at $69.29.
Bracelin commented:
“We see Twilio’s developer conference, Francisco next week as a potential catalyst that could strengthen the investment thesis of revenue quadrupling by 2022 to $2B driven by robust customer adds and expanding usage of its communication APIs that are enabling brands to establish direct connections with consumers (i.e., Lyft, etc.). This event comes on the heels of a -20% sell-off in TWLO shares during the first ten days of October vs. NASDAQ -9%.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 21.5% and a 71.9% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
Twilio Inc has an analyst consensus of Strong Buy, with a price target consensus of $88.64, a 27.9% upside from current levels. In a report issued on October 2, D.A. Davidson also initiated coverage with a Buy rating on the stock with a $99 price target.
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The company has a one-year high of $88.88 and a one-year low of $23.25. Currently, Twilio Inc has an average volume of 2.36M.
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Twilio, Inc. engages in the provision of communications software, cloud-based platform and services. Its developer-first platform approach consists of programmable communications cloud, super network, and business model for innovators.
