Twilio price target raised to $70 from $60 at Mizuho

Mizuho analyst Siti Panigrahi raised the firm’s price target on Twilio (TWLO) to $70 from $60 and keeps a Neutral rating on the shares. Twilio’s Q3 results were strong, with revenue beating estimates by 4% and Communications segment revenue accelerating to 10% year over year on strength in core messaging in email, but Segment revenue continues to lag with growth decelerating to flat y/y and operating losses failing to improve sequentially, the analyst tells investors in a research note. The drivers of the Q3 acceleration were not clearly articulated, and the firm struggles to identify key catalysts for near-term outperformance.