Twilio price target raised to $144 from $140 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Twilio (TWLO) to $144 from $140 and keeps an Overweight rating on the shares. The firm notes Q2 results showed top-line strength and demand drivers like Messaging and Voice AI remaining well intact, but the combination of lower GPM due to new A2P fees and increasing Messaging mix, lack of EBIT guide raise given ongoing investments, coming stop of business-unit disclosures, minimal near-term anticipated impact from pricing given the deployment, and second half of the year free cash flow reduction, has sent shares lower after hours.