Twilio (NYSE: TWLO) shares are trading higher on Wednesday.
JMP Securities maintained its Market Outperform rating on the stock and raised its price target from $160 to $200.
Twilio is a cPaaS company that allows software developers to integrate messaging and communications functionality into existing or new applications. The firm's programmable communications cloud addresses several use-cases, including programmable voice to make and receive phone calls.
Twilio's stock traded up 3.23% to $189.15 per share at time of publication on Wednesday. The stock has a 52-week high of $197.15 and a 52-week low of $68.06.