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Twilio Rises on New Buy Rating at Needham

Tony Owusu

shares were rising Tuesday after Needham analyst Richard Valera initiated coverage of the San Francisco cloud-communications-platform provider with a buy rating. The firm set a price target of $165 on the stock, a 17% upside from its Monday closing price of $140.71, as Valera views Twilio as the leader in the communications-platform-as-a-service space. Valera said Twilio has generated an "exceptional" organic growth rate of more than 60% with no signs of slowing due to its ability to integrate into different types of digital communications within apps like Uber and Airbnb.