Its shares recently traded at $164.81, up a whopping 35%.
Twilio’s revenue soared 57% in the first quarter from a year earlier, and its active user base jumped 23%. In addition, the company forecast revenue growth of 33% to 35% for this quarter.
The company “crushed 1Q20 revenue and earnings,” as companies deployed Twilio to keep in touch with their customers, Rosenblatt Securities analyst Ryan Koontz wrote in a report, according to Bloomberg.
Koontz also was impressed that Twilio affirmed its plan to increase spending this year. Koontz lifted his share-price target to $150 from $80 and has a neutral rating on the stock.
Twilio shares have jumped 40% in the last three months through Thursday, but “we don’t think you should be afraid to buy it here, because … the disruption from Covid-19 is probably the biggest possible accelerant TWLO could have ever asked for,” Cowen analyst J. Derrick Wood wrote in a report, according to Bloomberg.
Wood noted Twilio’s strength in new areas, such as telehealth and education. Wood raised his share-price target to $180 from $135 with an outperform rating.
Needham analyst Richard Valera boosted his target to $170 from $130 with a buy rating.
“Increased demand for telehealth and WFH [work-from-home] use cases, more than offset expected headwinds in heavily impacted verticals such as transportation and hospitality,” he wrote in a report, according to Bloomberg.