Wells Fargo raised the firm’s price target on Twilio (TWLO) to $140 from $120 and keeps an Overweight rating on the shares. The firm also added Twilio to its Q1 “Tactical Ideas List.” Wells sees a “favorable tactical setup” for the shares given the potential for further growth acceleration in Q4 and fiscal 2025, and upward revisions to the company’s current 7%-8% growth guidance. In addition, the investor day in January presents an opportunity for Twilio to refresh its long-term growth narrative, the analyst tells investors in a research note. Wells expects a second consecutive quarter of improving traffic volume given signs of healthy consumer spending, the potential for a rebound in certain end markets, such as crypto, and the company’s renewed relationships with independent software vendors, which it notes are growth and margin accretive.
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Read More on TWLO:
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- Twilio price target raised to $140 from $95 at Wolfe Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
