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Why Twilio's Stock Is Trading Higher Today

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.

Benzinga · 05/20/2020 15:24

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.