Twilio hits new 52-week high as stock continues to jump a day after upping forecast

Jeff Lawson, co-founder and chief executive officer of Twilio Inc., center, rings the opening bell on the floor of the New York Stock Exchange in New York, Sept.17, 2018.

Michael Nagle | Bloomberg | Getty Images

Shares of cloud communications company Twilio are up more than 12% Friday morning, extending the 10% gains after markets closed on Thursday evening and reaching a new 52-week high.

Twilio on Thursday said in a filing it anticipates more third-quarter revenue than the that the $401 million to $406 million range it provided in August.

Analysts polled by Refinitiv had expected $407.9 million in revenue for the third quarter. The range had implied 36% to 38% growth, which would be down from 46% in the second quarter. 

During Thursday’s investor day presentation, Twilio said it expects at least 30% organic annual revenue growth in each of the next four years and a 60% to 65% adjusted gross margin over the long term.

Many cloud companies have seen gains this year as schools and companies have had to rely on the online software to keep people connected during coronavirus quarantines. With Friday’s pop, Twilio shares have risen more than 192% year to date.

— CNBC’s Jordan Novet contributed to this report.

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