2023-08-11 09:13:54 ET
Twilio ( NYSE: TWLO ) shares rose fractionally in pre-market trading on Friday after investment firm Argus upgraded the communications software company after it reported second-quarter results earlier this week.
Analyst Jim Kelleher raised his rating on Twilio ( TWLO ) shares to buy from hold, noting the company looks positioned to grow revenue and adjusted earnings per share due to a revival in its core business and the recovery in its data and applications business.
"We see AI as a key accelerant for Twilio's business as clients seek to make their customer-communications tools more capable and more efficient," Kelleher wrote in a note.
In addition, Kelleher noted that Twilio ( TWLO ) raised its full-year adjusted profit forecast, and with companies like Meta ( META ), Alphabet ( GOOG ) ( GOOGL ) and Amazon ( AMZN ) showing a recovery in digital advertising spending, he believes Twilio's customers will increase spending.
Analysts are universally bullish on Twilio ( TWLO ). It has a BUY rating from Seeking Alpha authors , while Wall Street analysts rate it a BUY . Conversely, Seeking Alpha's quant system, which consistently beats the market, rates TWLO a STRONG BUY .
More on Twilio
- Twilio gains but Wall Street says patience needed after Q2 results, guidance
- Twilio Inc. Q2 2023 Earnings Call Transcript
- Twilio: Rapid Growth To Profitable Growth
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Twilio rises as Argus upgrades after Q2 results, guidance