Cloud-based communications software provider Twilio (TWLO) is teaming up with Singtel, Asia’s prominent communications technology group, to roll out Rich Communication Services (RCS) messaging in Singapore. This move lets businesses send secure and branded messages straight to customers’ mobile inboxes. It also helps fight spam and builds trust with verified messaging.
Twilio stock closed 2% higher on Friday at $119.93 and has risen 10.96% year-to-date. Adding to the momentum, Morgan Stanley analyst Meta Marshall recently upgraded the stock, citing the company’s strong execution.
Singapore Is a Key Market for Twilio’s Growth in Asia
This partnership marks Twilio’s first RCS launch in Asia, following successful rollouts in the U.S., UK, and Germany. Singapore plays a critical role in Twilio’s strategy to expand RCS messaging across the whole of the Asian region.
Terence Lai, Singtel’s Vice President of Digitalization, highlighted that businesses must evolve to meet customer expectations. He said this collaboration allows brands in Singapore to offer smarter and safer messaging.
Is Twilio a Good Stock to Buy Now?
Overall, Wall Street has a Moderate Buy consensus rating on Twilio stock based on 16 Buys, five Holds, and two Sell recommendations. The average TWLO stock price target of $149.55 implies 24.7% upside potential.
