Northland Capital Markets Starts Crexendo Inc. (CXDO) at Outperform

Northland Capital Markets analyst Michael Latimore initiates coverage on Crexendo Inc. (NASDAQ: CXDO) with a Outperform rating and a price target of $4.00.

The analyst comments "Initiating coverage of Crexendo, a top five UCaaS vendor with over 2.5 million users. Rock solid platform and disruptive pricing are aiding growth, especially in small business segment. UCaaS market is still underpenetrated and can more than double from current levels we believe. Company has a unique acquisition opportunity, buying service providers running its software. Forecasting $35.4 million in FY22 revenue and $2.0 million EBITDA. $4 target."

For an analyst ratings summary and ratings history on Crexendo Inc. click here. For more ratings news on Crexendo Inc. click here.

Shares of Crexendo Inc. closed at $2.32 yesterday.

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