Twilio (NYSE:TWLO) shares were trading higher on Monday after Morgan Stanley maintained the company with an overweight rating and raised the price target from $160 to $240.
Twilio is a communication platform as a service company that allows software developers to integrate messaging and communications functionality into existing or new applications via application programming interfaces and software development kits.
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The firm's Programmable Communications Cloud addresses several use cases, including Programmable Voice to make and receive phone calls, Programmable Messaging for SMS and MMS delivery, and Programmable Video that allows developers to embed video functionality in mobile and web applications.
Twilio shares were trading up 10.55% at $263.87 during the time of publication on Monday. The stock has a 52-week high of $264.13 and a 52-week low of $68.06.