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Twilio stock has risen about 25% so far this year.
Dreamstime
Argus Research is optimistic about the potential for artificial intelligence to benefit
Twilio’s
future business.
The company provides a communications platform that helps companies talk to their customers via text, voice, and video.
On Friday, analyst Jim Kelleher raised his intermediate-term rating on Twilio stock to Buy from Hold and established a 12-month price target of $72. His long-term rating for the stock remains at Buy.
“We see AI as a key accelerant for Twilio’s business as clients seek to make their customer-communications tools more capable and more efficient,” he wrote.
Twilio shares were up 1.9% to $61.74 on Friday.
Earlier this week, Twilio reported better-than-expected second-quarter earnings and raised its full-year guidance for operating income.
Kelleher said the recent series of robust June quarter results from
Meta Platforms
(META),
Alphabet
(GOOGL) and
Amazon.com
(AMZN) suggest the digital advertising market has started to rebound, which also bodes well for Twilio.
“In this environment, we look for Twilio’s clients to increase spending on customer engagement platforms and business tools,” he wrote.
Wall Street is generally mixed on Twilio stock, however. According to FactSet, 44% of analysts covering the company have ratings of Buy or the equivalent on shares, while 47% have Hold ratings, and 9% have Sell ratings.
Write to Tae Kim at [email protected]
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