Why Twilio's Stock Is Trading Higher Today

Twilio TWLO shares are trading higher on Wednesday.

JMP Securities maintained its Market Outperform rating on the stock and raised its price target from $160 to $200.

Twilio is a cPaaS company that allows software developers to integrate messaging and communications functionality into existing or new applications. The firm's programmable communications cloud addresses several use-cases, including programmable voice to make and receive phone calls.

Twilio's stock traded up 3.23% to $189.15 per share at time of publication on Wednesday. The stock has a 52-week high of $197.15 and a 52-week low of $68.06.