Twilio price target raised to $73 from $68 at Bernstein

Bernstein analyst Peter Weed raised the firm’s price target on Twilio to $73 from $68 and keeps a Market Perform rating on the shares. Twilio’s Q3 $1.034B revenue beat guidance and Street by nearly 5% for the 2nd quarter in a row, after the prior five quarters came in only 1%-2% above guide, the firm says. But seen through the lens of slightly down quarter-over-quarter growth, quarter-over-quarter nearly flat since Q4 2022, and year-over-year growth of only 5%, that might not seem like much of a win, Bernstein says. Instead, it might indicate expectations have been set low, it adds.