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Why Twilio Stock Jumped 5.8% Today

Even a relatively neutral analyst report can move the market sometimes.

By Anders Bylund – Updated Jul 30, 2020 at 12:25AM EST

What happened

Shares of Twilio (TWLO +3.72%) rose as much as 5.8% on Wednesday, goosed by another bullish analyst note.

So what

Rosenblatt analyst Ryan Koontz raised his price target on Twilio's stock from $150 to $235 per share, without changing the stock's "neutral" rating. In other words, Koontz expects Twilio's share prices to rise about as fast as the broader market in the near term, and it was time to update the price target to reflect rising stock prices.

A young woman uses her smartphone, wearing a surgical mask and white headphones.

Image source: Getty Images.

Now what

The stock closed Tuesday's trading at $250 per share and has now gained 154% since the market bottom in March. Twilio benefits from the COVID-19 pandemic's work-from-home and stay-at-home orders because its cloud-based communication tools help other companies set up and manage their own remote communications functions.

Read Next

About the Author

Anders Bylund
Anders Bylund is a contributing Motley Fool media and technology analyst covering semiconductors, cloud computing, internet infrastructure, quantum computing, and streaming media. Previously, Anders was a systems administrator for Nielsen Technology and CSX, gaining hands-on experience with enterprise-class systems. He was also a freelance writer for Ars Technica, TIME, USA Today, CNN, WIRED, and AOL's Daily Finance. He holds a bachelor’s degree in English and a master’s degree in library and information sciences from Florida State University. He believes in coyotes and time as an abstract.
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Stocks Mentioned

Twilio Stock Quote
Twilio
NYSE: TWLO
$130.50
(+3.72%)+$4.68

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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