Needham analyst Ryan Koontz raised the firm’s price target on Twilio to $80 from $70 and keeps a Buy rating on the shares. On December 4, Twilio announced a 5% RIF, including the discontinuation of its video product and the folding of its Flex Contact Center into its Communications BU, the analyst tells investors in a research note. The firm walked away from a talk with company IR more bullish on Communications revenue growth prospects and opportunities for margin expansion once difficult comps are lapped in mid-2024.
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