With a forward P/E ratio of 18.73, Crexendo, Inc. (NASDAQ:CXDO) is among the 10 Best Growth Stocks to Buy with Low P/E Ratios.
On May 6, Needham raised its price target on Crexendo, Inc. (NASDAQ:CXDO) to $12 from $9 while maintaining a Buy rating on the shares. The firm noted that the company delivered a particularly strong first quarter, highlighted by organic telecom services revenue growth of 18%, significantly exceeding the broader industry growth rate of 6% to 9%. According to the analyst, the outperformance was primarily driven by the addition of two major deals during the quarter. Needham also stated that Crexendo continues to gain market share across key Unified Communications as a Service (UCaaS) segments and believes demand could accelerate further if macroeconomic conditions improve.
On the same day, Eric Martinuzzi of Lake Street raised the firm’s price target on Crexendo, Inc. (NASDAQ:CXDO) to $11 from $9 while reiterating a Buy rating on the stock. The firm expressed satisfaction with the company’s first-quarter outperformance and subsequently increased its financial estimates following the earnings report.
Crexendo, Inc. (NASDAQ:CXDO) was founded in 1995 and is headquartered in Tempe. Operating within the telecommunications and software technology industry, the company provides cloud communication platform software, Unified Communications as a Service (UCaaS) solution, and managed IT services designed to deliver enterprise-grade communication infrastructure to businesses of varying sizes.
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