Twilio price target raised to $85 from $70 at TD Cowen

TD Cowen raised the firm’s price target on Twilio (TWLO) to $85 from $70 and keeps a Hold rating on the shares. The firm said they delivered 3Q growth of 10%, above the firm’s 6% estimate, driven by strengthening Messaging volumes. 4Q guide was in line and management shared preliminary FY25 revenue guide of +7-8% which is in line with Cowen’s estimates.