"One industry source commented, 'They are killing it,'" Walravens wrote. Twilio's stock has climbed more than 140% to $251 year-to-date. Walravens recently boosted his target price for Twilio from $243 to $260, citing the rave reviews the communications platform - which helps developers build apps that can make and receive phone calls and send text messages - has received from industry sources. "We hear that DocuSign is 'continuing to crush it,' is in 'just so many deals," and that the 'market is so hot right now,'" Walravens wrote, citing unnamed industry sources. Docusign has seen its shares have risen 160% to $198 since the beginning of the year. He set a price target of $233 for Docusign citing the San Francisco-based company's solid market gains. Walravens has a "market outperform," or buy, rating on the three stocks. JMP sets aggressive price targets on DocuSign, Twilio, Zendesk The tech-heavy Nasdaq Composite Index has climbed more than 50% since late March when the crisis escalated.īut Walravens pointed to Docusign, Twilio and Zendesk as the tech names "where we currently have data points suggesting strong business momentum and where we see upside," he wrote. These investments have benefitted tech companies offering tools that have helped businesses adapt quickly to the COVID-19 crisis, helping propel a tech market rally over the past four months. "The pandemic drove outsize investments in technology to enable effective remote work and to enable businesses to go back to work safely," JMP Securities analyst Pat Walravens told clients in a note. The sharp pivot to remote work sent the shares of so-called work-from-home tech companies soaring over the past few months.Īnd three of them - Docusign, the cloud e-signature company, communications platform Twilio, and Zendesk, the cloud customer service application - are likely to continue rallying, a Wall Street analyst said Tuesday. In a note to clients, JMP's Pat Walravens pointed to Docusign, Twilio and Zendesk as the tech names "where we currently have data points suggesting strong business momentum and where we see upside.".A JMP Securities analyst says three stocks - Docusign, Twilio and Zendesk - are poised to continue rallying, given their market momentum.The pandemic and the shift to remote work lifted the shares of tech companies that offer work-from-home tools.Account icon An icon in the shape of a person's head and shoulders.
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