JPMorgan Upgrades Twilio (TWLO) to Overweight; 'Confluence of Growth Vectors Aligning'

February 9, 2021 4:27 AM EST
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Price: $409.84 +1.07%

Rating Summary:
    30 Buy, 5 Hold, 0 Sell

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Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - February 9, 2021 7:09 AM EST)

JPMorgan analyst Mark Murphy upgraded Twilio (NYSE: TWLO) from Neutral to Overweight with a price target of $465.00 (from $300.00).

The analyst comments "We see company-specific tailwinds propelling the business in 2021, including a strengthening Enterprise presence with more CEOs looking to Twilio as a strategic partner for Customer Engagement, rather than just a communications layer. We see Customer Engagement as a major vector for priority spend, and while we’ve recommended our other four names in this category (HUBS, ZI, BAND, CRM) and focused on Twilio for the first multi-bagger period of its existence, our omission of Twilio for the second half of 2020 has been a glaring mistake."

Specific tailwinds we expect to drive solid growth-at-scale for Twilio include:

1) elevated Enterprise presence;

2) eventual improvement in COVID-impacted sectors, including Travel/Rideshare/Hospitality;

3) increasing adoption of two-way messaging;

4) segment acquisition synergies; and

5) early traction with newer products including Flex, Video, and Frontline."

For an analyst ratings summary and ratings history on Twilio click here. For more ratings news on Twilio click here.

Shares of Twilio closed at $399.51 yesterday.


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