Twilio (TWLO) PT Raised to $460 at Needham & Company After Earnings
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Needham & Company analyst Ryan Koontz raised the price target on Twilio (NYSE: TWLO) to $460.00 (from $430.00) after the company delivered very strong results again in 2Q21, beating top line by 12% and bottom line by $0.02, while guiding 3Q revenue 6% above consensus. International sales led the way, surging to 32% of revenues, up 30% q/q. SMS messaging again outgrew the balance of products, boosted by the pandemic, though weighing modestly on gross margins.
The analyst reiterated a Buy rating, stating "We continue to view TWLO's market leadership as durable given the company's highly differentiated developer-led go to market programs. We raise our 2H21 and C22 revenue estimates by 5%, lift our price target to $460 and reiterate our buy rating as one of our top picks. With the stock trading down modestly AH, we would be buyers on weakness."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
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