Why Twilio Stock Climbed on Tuesday

Shares of Twilio (NYSE: TWLO) climbed today, up by 5% as of 11:30 p.m. EDT, after a Wall Street analyst raised his price target on the company. KeyBanc analyst Alex Kurtz ratcheted up his valuation estimate from $410 to $424 while reiterating an overweight (equivalent to buy) rating. Kurtz suggests that demand for Twilio's offerings is booming amid "underlying reopening trends" as enterprise customers seek to engage with consumers, citing KeyBanc's proprietary Key First Look Data.