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Twilio’s Impressive Q4 Preview Sends Stock Soaring
Twilio’s stock surged over 20% on Friday, following the company’s investor day event, where it shared promising long-term profit projections and preliminary fourth-quarter results. The communications software maker expects to report 11% year-over-year sales growth for Q4, exceeding analysts’ expectations of 10% growth.
Strong Guidance and Share Repurchase Authorization
Twilio’s guidance for the fourth quarter and fiscal year 2024 surpassed expectations, with non-GAAP income from operations expected to be above the top-end of the guidance ranges. The company also announced a new $2 billion share repurchase authorization, further boosting investor confidence.
Analysts Weigh In
UBS analyst Taylor McGinnis reiterated a buy rating for Twilio, with a price target of 145, up from 140. McGinnis praised Twilio’s investor day event, stating that the company provided investors with the necessary reassurance to remain optimistic about its medium-term growth prospects.
Twilio’s Software Solutions
Twilio’s tools enable app developers to seamlessly integrate voice, text messaging, and video into their products. The company’s software also facilitates communication between cloud-based applications, making it an attractive solution for businesses.
Recent Rally and IBD Composite Rating
Twilio’s stock has been on a tear, surging 60% since its third-quarter earnings report. The company boasts an impressive IBD Composite Rating of 98 out of 99, indicating its strong growth potential.
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