In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to Twilio Inc (NYSE: TWLO), with a price target of $60. The company’s shares closed on Friday at $55.14, close to its 52-week high of $56.00.
Kidron wrote:
“Following another strong earnings report (1Q18), we revisited our in-depth growth metrics and peer analysis. We remain bullish even as the stock has risen given that (1) consensus expectations still underestimate top-line growth potential as Twilio distances itself from smaller and slower-growing competitors; (2) enterprise penetration is still in the early innings; (3) new, innovative products offer incremental TAM opportunities; (4) gross margin expanded sequentially in 1Q18 and has room to expand more with easy 2H18 comps. We expect Twilio to continue to execute well/ deliver, with net dollar expansion/customer net adds tracking above consensus and gross margin improvement enabling further upside from below LT potential levels. We are raising our PT to $60 from $50. Maintain Outperform.”
According to TipRanks.com, Kidron is a top 100 analyst with an average return of 23.3% and a 65.7% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Juniper Networks, and Pure Storage Inc.
Currently, the analyst consensus on Twilio Inc is Strong Buy and the average price target is $51.44, representing a -6.7% downside.
In a report issued on May 9, Canaccord Genuity also maintained a Buy rating on the stock with a $52 price target.
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The company has a one-year high of $56.00 and a one-year low of $23.25. Currently, Twilio Inc has an average volume of 2.32M.
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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.
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