2 Growth Stocks Gearing Up for a Comeback
Tech stocks have been surging in 2023. The Nasdaq Composite, which is skewed toward technology stocks, has jumped more than 30% so far this year. Investors are clearly getting more comfortable betting on riskier stocks after sentiment shifted hard in the other direction in 2022.
(NYSE: TWLO) and Cloudflare (NYSE: NET) are both up substantially this year, but the growth stocks remain far below their pandemic-era peaks. Here's why both are positioned for comebacks over the long run.
Shares of cloud messaging platform provider Twilio are down a whopping 85% from their pandemic-era high. Revenue growth has slowed dramatically as Twilio's customers pull back on spending in a tough economy. While Twilio booked 61% revenue growth in 2021, the top line expanded by just 35% in 2022.
Source Fool.com
Twilio Inc Stock
Our community is currently high on Twilio Inc with 18 Buy predictions and 3 Sell predictions.
As a result the target price of 70 € shows a positive potential of 30.89% compared to the current price of 53.48 € for Twilio Inc.
