Mitsubishi UFJ upgraded Twilio (NYSE: TWLO) from Neutral to Overweight with a price target of $35.00 (from $23.00).

Analyst Stephen Bersey was impressed with quarter. He views the increased FY guidance as positive noting it signals robust customer demand and improving sales funnel which he believes is notable in light the projected further declines in Uber revenue.

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 $30.53 yesterday.