Benzinga | Jul 12, 2021 11:33AM EDT

Wolfe Research Raises Twilio Price Target, Reiterates Outperform

* Wolfe Research analyst Alex Zukin raised Twilio Inc's (NYSE:TWLO) price target to $480 from $440, implying a 20.9% upside, reiterating an Outperform rating ahead of the Q2 results.

* Zukin's conversations with ecosystems partners suggest continued strength at Twilio. The messaging and voice continue to serve as the company's key growth drivers. He also perceives strong segment momentum. Twilio remains a top long-term pick.

* Twilio sees Q2 revenue guidance of $591 million - $601 million, compared to analyst consensus of $598.37 million. It sees an EPS loss of $(0.16) - $(0.13) against analyst consensus loss of $(0.13)

* Price action: TWLO shares traded higher by 0.51% at $394.36 on the last check Monday.