Can Twilio Come Back in the Second Half of 2024?
Like many growth tech stocks, Twilio (NYSE: TWLO) benefited from a fantastic run in 2021 only to hit a wall in the 2022 bear market. Unfortunately, the communications platform-as-a-service (CPaaS) stock has never recovered, and it fell in the first half of 2024.
Still, CPaaS plays a critical role in the operations of tech-dependent companies such as Uber and Airbnb. Also, the fact that Twilio stock experienced considerable growth at one time indicates that it could happen again under the right conditions. Hence, it makes sense to look at whether the second half of the year may finally be Twilio's time.
Twilio benefited from initial success because it was a first mover in the CPaaS field. Its tools support text, voice, video, and email through application programming interfaces (APIs). More than 300,000 companies use its technology in some form, including many of tech's top growth companies.
Source Fool.com
Twilio Inc Stock
Currently there is a rather positive sentiment for Twilio Inc with 15 Buy predictions and 3 Sell predictions.
With a target price of 67 € there is a positive potential of 24.28% for Twilio Inc compared to the current price of 53.91 €.
