Skip to main content

Twilio (TWLO) - Get Twilio, Inc. Class A Report  rose Friday after RBC Capital Markets initiated coverage on the stock with an outperform rating and a $135 one-year price target on what it sees as "one of the most durable growth stories in software."

In a note initiating coverage on the company, RBC Capital analyst Alex Zukin said Twilio's customer service-focused communications offerings are "disrupting one of the largest pools of enterprise spend," adding that he sees both "long-term durable growth and upside to consensus revenue estimates."

Twilio, which provides cloud-based communication platforms for customer service use, including the ability for customers to chat online for customer support, last month unveiled a suite of tools and improvements called Twilio Conversations that analysts expect will see strong demand.

Image placeholder title
Scroll to Continue

TheStreet Recommends

Twilio Conversations will allow companies to link together communications from multiple channels -- such as WhatsApp, WeChat and other instant messaging program -- into a single stream.

Shares of Twilio were up 3.71% to $114.38 on Friday.

Twilio is a holding in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells TWLO? Learn more now.