Crexendo price target raised to $5.50 from $4 at Lake Street

Lake Street raised the firm’s price target on Crexendo to $5.50 from $4 and keeps a Buy rating on the shares. The firm’s research indicates the good momentum reported in Q3 has continued and the pipeline supports improved future execution, the analyst tells investors in a research note. Lake Street’s 2024 revenue estimate is likely too conservative based on continued good performance of both the services and software solutions segments, the firm adds.