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Twilio Crosses $30 After JMP Upgrade

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Twilio Inc (NYSE: TWLO) shares are trading higher by $1.00 (3.6 percent) at $29.83 in Wednesday's session. The catalyst for the rally is an upgrade from JMP Securities, which changed their rating on the issue from Market Perform to Outperform.

The issue, which had been in a trading range from $25.98 to $30.50, has tested the upper-range in today's session. After a higher open, it continued in that direction with the rally stalling just ahead of that level at $30.37 and reversed course.

Twilio is attempting to post its first close over $30.00 since December 28, when it ended that session at $30.21.

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