Twilio (TWLO) Momentum Intact, Outlook Conservative - Oppenheimer
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Oppenheimer analyst Ittai Kidron reiterated an Outperform rating and $50 price target on Twilio (NYSE: TWLO) following strong results after the close. Kidron notes momentum is intact and the outlook is conservative.
Kidron commented, "Twilio reported strong 3Q16 results, in line with its positive pre-announcement from October 11. Overall, the company continues to experience impressive growth across multiple vectors (new customer additions and usage and use case expansion within existing customers), as well as introduce new solutions into the marketplace, which can fuel further upside in 2017. We maintain our bullish view on the company as the transition to cloud-based architecture for application-to-person communication continues. Furthermore, we believe guidance is highly conservative and model outlook at the high-end of management's guidance while still believing there's more upside. Maintain Outperform and $50 price target."
Shares of Twilio closed at $32.60 yesterday.
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