B. Riley Securities Downgrades Crexendo to Neutral, Raises Price Target to $6.75
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Josh Nichols downgraded Crexendo (NASDAQ:CXDO) from Buy to Neutral but increased the price target from $4.5 to $6.75.

January 31, 2024 | 10:37 am
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NEUTRAL IMPACT
Crexendo was downgraded by B. Riley Securities from Buy to Neutral, although the price target was raised from $4.5 to $6.75.
The downgrade to Neutral suggests that B. Riley Securities sees limited upside potential or increased risk in Crexendo's stock, which could temper investor enthusiasm. However, the increase in the price target indicates a positive outlook on the company's value, which might counterbalance the downgrade's negative impact. The mixed nature of this update leads to a neutral score, as the market could react in either direction or remain unchanged in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100