Argus Reiterates Buy Rating on Twilio (TWLO) Following 3Q
Argus analyst Jim Kelleher reiterated a Buy rating and $330.00 price target on Twilio (NYSE: TWLO) following the company's 3Q earnings report. Twilio reported 3Q20 revenue of $448 million. Above revised consensus forecast of $410million. TWLO reported non-GAAP profit of $0.04 per diluted share in 3Q20. Consensus expectations had called for a loss of $0.03 per share.
Argus raised non-GAAP forecast for 2020 to a profit of $0.20 per diluted share, from a profit of $0.18. Given expectations that Twilio will continue investing aggressively in its business, Kelleher trimmed non-GAAP EPS forecast for 2021 to $0.37 per diluted share, from $0.42.
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Shares of Twilio closed at $297.50 yesterday.