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Why Twilio's Stock Is Soaring Today

TheMotleyFool

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Shares of cloud-based communications and collaboration technologist Twilio (NYSE: TWLO) traded 7.1% higher at 2:40 p.m. EDT on Friday, goosed by a bullish analyst note.

Cowen & Co. analyst Derrick Wood reiterated his outperform rating on Twilio shares, which indicates that he expects the stock to beat the market in the near term. Wood lifted his price target from $230 to a Street-high $260 per share, 17% above Thursday's closing price. The analyst said that his proprietary checks on Twilio's clients and markets are "very bullish" and that the company is in the early days of a huge long-term growth cycle.

Image source: Getty Images.

Source Fool.com

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