Shares of Twilio (TWLO) - Get Twilio, Inc. Class A Report jumped Friday after the cloud-communications platform reported preliminary third-quarter results exceeding analysts' estimates and Wall Street published a number of bullish research notes.
Analysts at RBC Capital lifted their price target on the stock to a Wall Street high $375 a share from $320 while affirming an outperform rating.
Morgan Stanley maintained raised its price target to $270 from $240, affirmed an overweight rating and said Twilio is "one of the most attractive growth opportunities in our coverage universe," Bloomberg reported.
Piper Sandler raised Twilio's price target to $315 from $300 while maintaining its overweight rating.
Cowen raised its price target to $350 from $310 while maintaining an outperform rating.
Analysts at Rosenblatt were less bullish on the San Francisco company, affirming a neutral rating and $255 price target even in the face of "a very impressive set of company achievements" and "few viable near-term competitive threats to TWLO's dominance."
Twilio shares had risen sharply in after-hours trading on Thursday after the company said in a Securities and Exchange Commission filing that it preliminarily expects total revenue for the quarter ended Sept. 30 "will be ahead of the company’s previously issued guidance of $401 million to $406 million.”
Twilio had been expected to report revenue of $404.6 million for the quarter, based on a FactSet survey of 25 analysts.
For the year-earlier quarter, the company posted sales of $295.1 million.
Twilio shares at last check jumped 12% to $287.15. The stock has nearly tripled in 2020 to date.