Canaccord analyst Richard Davis raised his price target for Twilio (TWLO) to $155 from $125 and maintained a Buy rating following the company's quarterly results, saying the upside was about what he expected. Davis tells investors in a research note that Twilio provided an update on the Verizon (VZ) price increase for SMS messaging, a cost it will pass on to customers. This cost will depress gross margins by about 100 basis points long-term, although gross profit dollars are likely to remain unchanged. This is a good space for "pretty much any firm with a modern technology stack," Davis contends.