Fly News Breaks for September 30, 2019
Sep 30, 2019 | 08:16 EDT
BofA/Merrill analyst Nikolay Beliov kept his Buy rating and $160 price target on Twilio, saying his deep-dive analysis of its Conversations API suggests the service marks another "growth lever" for the company and supports his view of the stock as his 2019 top pick. The analyst notes that the shares have traded flat relative to the Nasdaq year-to-date, even though the company is an "unquestionable market leader in a very large market" with base revenue growth of over 50% this year, adding that investor concerns over the slowdown in expansion rate and Flex ramp are overblown. Beliov further contends that Twilio is "out-innovating everybody" while staying "many steps" ahead of the competition with its TaskRouter, Flex, and now Verify and Conversations offerings.
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