Twilio price target raised to $161 from $142 at Piper Sandler

Piper Sandler raised the firm’s price target on Twilio (TWLO) to $161 from $142 and keeps an Overweight rating on the shares. The firm notes Twilio announced full Q4 results that were generally as expected given the positive preannouncement from the analyst day a few weeks ago. Incrementally, the upside is coming from primarily customer expansion, Segment GPM & NRR appear to be at least stable, and Q1 guide leaves a better setup moving forward and could be another accelerating-growth quarter. Generally, this was going to be a “non-event” given the analyst day, and Piper’s thesis remains unchanged.