Twilio price target raised to $192 from $130 at Piper Sandler

Piper Sandler raised the firm’s price target on Twilio (TWLO) to $192 from $130 and keeps a Neutral rating on the shares. The firm notes shares were up 15% after-hours following Twilio’s largest beat in about three years that came in well-above buyside expectations, which was complemented by a guidance raise that still looks conservative, gross-profit dollars accelerating, and acceleration across key mediums of Voice and core Messaging. Durable growth drivers remain here, and while Piper has a positive long-term bias, the firm would wait for a better entry-point given the second half compares becoming more challenging and after hours move that puts valuation near the high-end of the historical range.