Buy This Twilio Peer Before It Zooms Higher

Software-as-a-service (SaaS) stocks are having a terrible time in the market thanks to concerns that their days of rapid growth may be over as the world returns to normalcy following the pandemic. This has weighed heavily on high-flying SaaS stocks like Twilio (NYSE: TWLO) that crushed the market last year but have failed to replicate their magic in 2021.

Twilio's share price has fallen sharply in the past month despite a terrific start to the new fiscal year and a solid outlook that indicates high levels of growth even as the world starts returning to normalcy. Rival communications-platform-as-a-service (CPaaS) provider Bandwidth (NASDAQ: BAND) has also suffered, losing nearly a quarter of its market capitalization in 2021.