What's Going On With Twilio Shares Friday?

Twilio Inc. TWLO shares are moving higher on Friday after the company revisited its guidance for the 2024 fiscal-year and fourth-quarter.

The Details: Twilio raised its fourth-quarter revenue growth guidance to approximately 11% year-over-year, up from its original range of 7% to 8%. In addition, the company sees positive GAAP income for the fourth-quarter.

Twilio expects to report income from operations at the higher end of its original guidance range for both the fourth-quarter and fiscal year. It projects fourth-quarter income from operations between $185 million and $195 million, and fiscal-year income between $700 million and $710 million.

The company still anticipates fiscal-year free cash flow between $650 million and $675 million.

After the company issued guidance, multiple analysts issued price target adjustments. Baird analyst William Power upgraded Twilio from a Neutral rating to an Outperform rating and raised the price target from $115 to $160.

JP Morgan analyst Mark Murphy maintained an Overweight rating on Twilio and raised the price target from $83 to $130.

Twilio is due to release its earnings report on Feb. 13 after the market closes. Analysts estimate fourth-quarter earnings per share of $1.00 and revenue of $1.16 billion, according to data from Benzinga Pro.

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TWLO Price Action: At the time of writing, Twilio stock is trading 21.3% higher at $137.69, per data from Benzinga Pro.

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