In a report released today, Ittai Kidron from Oppenheimer maintained a Buy rating on Twilio Inc (TWLO), with a price target of $110. The company’s shares closed on Wednesday at $76.96.
Kidron observed:
“On Wednesday, Twilio filed a proxy in connection to its proposed acquisition of SendGrid. We’d note: (1) Twilio made four cash offers for SendGrid before internal forecasts were shared and a stock deal was deemed as offering superior value; (2) the deal’s strategic rationale centered on the value of a single platform, cross- selling opportunities, and acceleration of growth. Cost synergies weren’t highlighted; (3) Twilio’s internal forecasts were materially above consensus calling for 136.3% net dollar expansion rate vs. consensus of 125.7% (2019); (4) synergies math focused on FCF and points to strong revenue ramp in 2021/thereafter; (5) SendGrid’s projections were also well above consensus. Overall, we continue to see strong core business upside and compelling SendGrid deal rationale/synergies and remain bullish on Twilio. Maintain Outperform.”
Kidron has an average return of 83.9% when recommending Twilio Inc.
According to TipRanks.com, Kidron is ranked #22 out of 5129 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Twilio Inc with a $98.54 average price target, which is a 28.0% upside from current levels. In a report issued on November 8, Argus Research also maintained a Buy rating on the stock with a $110 price target.
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The company has a one-year high of $98.89 and a one-year low of $23.25. Currently, Twilio Inc has an average volume of 4.06M.
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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.
