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Twilio (TWLO) Enters Canadian Technology Market, Boosts Presence

·4-min read

Twilio Inc. TWLO recently announced that the company has officially entered the Canadian market. The San Francisco-based customer engagement platform service provider named Dino Marasco as the region's new vice president and general manager.

The Twilio team grew to several dozen of employees within a span of six months in Canada. This highlights the company’s objective to enhance international operations outside the U.S. office. Marasco stated, “We’re incredibly eager to take advantage of the massive opportunity to support Canadian businesses in building direct, long-term relationships with their customers." The company is still hiring to fill positions in Canada.

The Canadian technology sector is fueling growth across the economy at present without showing any signs of sluggishness. A foray into this booming sector will assist Twilio in accelerating its business growth while making an impression worldwide.

Twilio Inc. Price and Consensus

Twilio Inc. Price and Consensus
Twilio Inc. Price and Consensus

Twilio Inc. price-consensus-chart | Twilio Inc. Quote

Per the latest Business Development Bank of Canada report, the country’s technology sector is anticipated to witness growth of 5.3% in 2022. The country has emerged as a tech hub due to a top-tier university system, corporate offices and a convenient immigration policy. Twilio aims to make an impact in the Canadian healthcare and life sciences, retail and financial services industries through its presence.

Twilio has been continuously making investments to meet the requirements of a broad range of global developers and enterprises. Its efforts toward global expansion are commendable. In July 2021, the company acquired the leading toll-free messaging services provider, Zipwhip, to strengthen its customer engagement capabilities. In first-quarter 2022, the Zipwhip business contributed $32.2 million to total revenues, accounting for a 4% margin.

In March 2021, the company expanded its footprint in the Indian communication market with the buyout of ValueFirst, a communications-platform-as-a-service firm. Twilio’s Segment buyout in 2020 helped it to improve its capabilities in the cloud-based communications platform space and gained significant customers.

Zacks Rank & Other Stocks to Consider

Twilio currently carries a Zacks Rank #2 (Buy). Shares of TWLO have plunged 77.2% in the past year.

Some other top-ranked stocks from the broader Computer and Technology sector are Analog Devices ADI, Axcelis Technologies ACLS and Baidu BIDU. While Analog Devices and Axcelis currently flaunt a Zacks Rank #1 (Strong Buy), Baidu carries a Zacks Rank of 2. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Analog Devices' third-quarter fiscal 2022 earnings has been revised upward by 24 cents to $2.42 per share over the past 60 days. For fiscal 2022, earnings estimates have moved 81 cents north to $9.24 per share in the past 60 days.

Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 7.7%. Shares of ADI have decreased 14.4% in the past year.

The Zacks Consensus Estimate for Axcelis' second-quarter fiscal 2022 earnings has been revised 3 cents northward to 99 cents per share over the past 60 days. For 2022, earnings estimates have moved 10.3% north to $4.40 per share in the past 60 days.

Axcelis' earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 23.5%. Shares of ACLS have surged 35.5% in the past year.

The Zacks Consensus Estimate for Baidu's second-quarter 2022 earnings has been revised 2 cents southward to $1.38 per share over the past 30 days. For 2022, earnings estimates have moved 74 cents north to $8.27 per share in the past 30 days.

Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 52.9%. Shares of BIDU have fallen 25.8% in the past year.


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