Twilio (TWLO) Hits 4-Year High as This Analyst Repeats Bullish Call

Twilio Inc. (NYSE:TWLO) is one of the 10 Stocks Entering June on Fire.

Twilio Inc. rallied to a new four-year high on Monday, as investors took heart from TD Cowen’s reaffirmed bullish rating and outlook for the company, saying that it is now tracking the path towards growth.

In intra-day trading, the stock climbed to a record high of $231.36 before trimming gains to end the session just up by 19.36 percent at $227.54 apiece.

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In a market note, TD Cowen reiterated its “buy” recommendation and $210 price target on shares of Twilio Inc. (NYSE:TWLO), citing its completion of a three-year restructuring period and its shift toward AI-driven revenue growth. The figure marked a 10 percent upside potential from its $190.64 close on Friday, but was 7.7 percent lower than the $227.54 closing price on Monday.

Part of the corporate structuring includes slashing its headcount following the software sector’s expansion in 2021, as well as cost discipline measures and bringing in new leadership focused on organic innovation and profit growth.

Apart from TD Cowen, Bank of America also last week maintained a bullish rating for Twilio Inc. (NYSE:TWLO), having reaffirmed its buy recommendation at a higher price target of $235.

Twilio Inc. (NYSE:TWLO) is a cloud communications platform-as-a-service company that enables businesses and software developers to build and integrate real-time communications directly into their mobile and web applications.

In the first quarter of the year, it reported a stellar 350 percent jump in net income at $90 million versus only $20 million in the same period last year. Revenues also increased by 19.6 percent to $1.4 billion from $1.17 billion year-on-year.

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