Twilio price target raised to $70 from $68 at Bernstein

Bernstein raised the firm’s price target on Twilio to $70 from $68 and keeps a Market Perform rating on the shares. The firm notes Twilio’s Q2 saw slight year-over-year growth acceleration to 4.3% year-over-year as it starts lapping the strategy “clean up” with a reenergized focus on the Communications business. Between reported improving organic growth in self-serve, email, massaging, and ISV, and lapping effects of end-of-life for Zipwhip by end of 2024, the company was able to guide accelerating growth through end of year at 5.5% in Q3 and 6.6% year-over-year in Q4. And these numbers don’t include improvement in Segment, Bernstein adds.