After-hours movers: AMD, Pinterest, CAVA Group, Toast, and more
Investing.com - Needham raised its price target on Crexendo Inc. (NASDAQ:CXDO) to $9.00 from $8.00 on Thursday, while maintaining a Buy rating on the stock. This target sits between the current analyst range of $7.50 to $11.00, with Crexendo currently trading slightly below InvestingPro’s calculated Fair Value.
The price target increase follows Needham’s attendance at Crexendo’s "User Group Meeting" 2025 held in Miami, Florida earlier this week, where the firm gained "incrementally positive" insights on demand, product innovation, and competitive positioning. The company has demonstrated strong revenue growth of 13.1% over the last twelve months, with analysts expecting this momentum to continue.
Needham highlighted artificial intelligence as a key theme of the event, noting that AI is becoming increasingly important in the Unified Communications as a Service (UCaaS) environment, with Crexendo developing an AI product roadmap to drive incremental revenue per customer through organic product development and partnerships.
The firm expressed "increased confidence in the demand environment for the balance of 2025" and in Crexendo’s competitive position relative to other vendors in the market.
Needham believes Crexendo is "well positioned to outgrow the market" due to product and platform innovation, while noting that "other legacy vendors continue to cede market share."
In other recent news, Crexendo, Inc. has made several strategic partnerships and appointments to strengthen its cloud communications platform. Crexendo has partnered with NUSO, selecting it as a preferred carrier to expand its service delivery across more than 40 countries. This collaboration allows Crexendo’s platform licensees to offer cloud communications services through NUSO’s global network, providing access to over 6 million end users. Additionally, Crexendo has integrated Dubber into its NetSapiens Platform ecosystem, enabling secure call recording and AI-powered conversation intelligence solutions for its customers. Another notable partnership is with OneReach.ai, which will bring AI agent capabilities to Crexendo’s platform through the integration of the Generative Studio X Platform. In leadership news, Crexendo appointed Santosh Panattu as Senior Vice President of Infrastructure and Global Cloud Operations, bringing nearly two decades of experience in unified communications and SaaS. Panattu’s previous role at RingCentral involved overseeing cloud operations for over 7 million end-users globally. These developments highlight Crexendo’s ongoing efforts to enhance its platform offerings and operational capabilities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.