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Twilio (TWLO) Stock Jumps, Oppenheimer Initiates Coverage

NEW YORK (TheStreet) -- Shares of Twilio (TWLO) were rising 6.63% to $36.36 on heavy trading volume early Tuesday afternoon as Oppenheimer began covering the stock with an "outperform" rating and $50 price target.

Oppenheimer said that the San Francisco-based cloud communications provider will be able to "drive strong growth for the foreseeable future," adding that Twilio could be the "next $10 billion company."

The firm noted that Twilio will benefit from companies' "rapid" adoption of application-to-person communication, as well as growing usage of...