Wall Street’s Top AI Stock: Invest Hand Over Fist Before It Soars 86%

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Twilio (TWLO 3.86%) is a cloud communications specialist which recently released its first-quarter results for 2023. The stock has lost some momentum recently, but a closer look at the company’s business suggests that now is an interesting time to buy the stock. Twilio is a key player in a market that’s built for long-term growth and the company could benefit from the increasing application of AI in the CPaaS market.

The CPaaS market, which was worth a staggering $11.6 billion last year, is expected to grow at a 31% CAGR over the next decade and could generate $173 billion in annual revenue by 2032. Plus, Twilio’s earnings are anticipated to double every year for the next five years due to its focus on AI-powered customer service solutions.

Twilio’s CEO is Jeff Lawson, who said on the latest earnings conference call that macroeconomic challenges are hurting consumer spending patterns. The company is focusing on enhancing its sales infrastructure despite the ongoing headwinds.

Twilio’s application programming interfaces (APIs) help companies easily communicate with their customers by allowing customer service associates access to different communication channels with just a laptop and the internet. AI tools such as chatbots can help increase efficiency by responding to customers’ queries and connecting them to the right agent quickly.

It is worth noting that Twilio’s stock is currently trading at just 2.7 times sales and the street-high price target for the stock is $110, offering potential investors an opportunity to buy the stock before it soars 86%.

So, if you are looking for an AI stock to buy hands over fist before it has the potential to soar 86%, according to Wall Street, then Twilio could be the right stock for you. However, ensure that you do your own due diligence and research before investing.

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