Crexendo downgraded to Neutral from Buy at B. Riley

B. Riley downgraded Crexendo to Neutral from Buy with a price target of $6.75, up from $4.50. The shares are up 258% since the company reported strong Q3 operating results on November 9, the analyst tells investors in a research note. The firm believes Crexendo is fairly priced at current levels but says it could become more constructive on the name if growth accelerates or the valuation becomes a bit more attractive, as the company is experiencing encouraging sales momentum