Crexendo (CXDO - Free Report) recently achieved a significant milestone with its cloud communication platform user base exceeding four million globally.
This remarkable growth follows Crexendo's strategic acquisition of the NetSapiens platform in June 2021, which initially served 1.7 million users. By September, the user base surpassed the three-and-a-half million mark.
Fueled by the addition of new licensees and robust growth within its existing network of more than 220 licensees, Crexendo continues to thrive.
The impressive growth in Crexendo’s user base reinforces its position as a premier provider committed to delivering innovative solutions and excellence in the evolving landscape of cloud communications.
Expanding Portfolio Aids Growth
Crexendo’s shares have surged 118.9% year to date compared with the Zacks Computer & Technology sector’s increase of 50.8%. The outperformance can be attributed to Crexendo's expanding clientele driven by portfolio strength.
Crexendo's recent introduction of its API 2.0 solidifies its position in cloud communication with innovative CPaaS capabilities and advanced AI features.
Crexendo also joined the CPaaS Acceleration Alliance, a global initiative dedicated to pushing the boundaries of Communication Platform as a Service (CPaaS) solutions. Through this collaboration, Crexendo's cloud communication services aim to redefine possibilities and set new benchmarks for excellence in the evolving realm of communication technology.
To enhance its offerings, Crexendo inked a partnership with Nomadix, targeting the improvement of hospitality telephony solutions. This collaboration, benefiting over 200 service provider partners, integrates Nomadix's gateway portfolio, Property Management System integration, Alerts, Networks and other technological offerings.
Taking a step further in technological innovation, Crexendo launched Generative AI technology with ChatGPT integration in its Contact Center solution. This development enhances real-time, natural conversations, contributing to improved customer support, sales and internal communications.
Crexendo's strong portfolio and partner base are contributing to its growth prospects continuously, thereby driving top-line growth.
The Zacks Consensus Estimate for 2023 revenues is pegged at $52.79 million, indicating 40.57% year-over-year growth. The consensus estimate for 2023 earnings is pegged at 6 cents per share, unchanged in the past 30 days.
Zacks Rank & Other Stocks to Consider
CXDO carries a Zacks Rank #2 (Buy).
Flex (FLEX - Free Report) , NetEase (NTES - Free Report) and Vertiv (VRT - Free Report) are other top-ranked stocks that investors can consider from the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FLEX, NTES and VRT shares have returned 39.4%, 42.1% and 260.3%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Flex, NetEase and Vertiv are pegged at 12.39%,15.98% and 53.86%, respectively.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
Crexendo (CXDO - Free Report) recently achieved a significant milestone with its cloud communication platform user base exceeding four million globally.
This remarkable growth follows Crexendo's strategic acquisition of the NetSapiens platform in June 2021, which initially served 1.7 million users. By September, the user base surpassed the three-and-a-half million mark.
Fueled by the addition of new licensees and robust growth within its existing network of more than 220 licensees, Crexendo continues to thrive.
The impressive growth in Crexendo’s user base reinforces its position as a premier provider committed to delivering innovative solutions and excellence in the evolving landscape of cloud communications.
Expanding Portfolio Aids Growth
Crexendo’s shares have surged 118.9% year to date compared with the Zacks Computer & Technology sector’s increase of 50.8%. The outperformance can be attributed to Crexendo's expanding clientele driven by portfolio strength.
Crexendo's recent introduction of its API 2.0 solidifies its position in cloud communication with innovative CPaaS capabilities and advanced AI features.
Crexendo also joined the CPaaS Acceleration Alliance, a global initiative dedicated to pushing the boundaries of Communication Platform as a Service (CPaaS) solutions. Through this collaboration, Crexendo's cloud communication services aim to redefine possibilities and set new benchmarks for excellence in the evolving realm of communication technology.
To enhance its offerings, Crexendo inked a partnership with Nomadix, targeting the improvement of hospitality telephony solutions. This collaboration, benefiting over 200 service provider partners, integrates Nomadix's gateway portfolio, Property Management System integration, Alerts, Networks and other technological offerings.
Taking a step further in technological innovation, Crexendo launched Generative AI technology with ChatGPT integration in its Contact Center solution. This development enhances real-time, natural conversations, contributing to improved customer support, sales and internal communications.
Crexendo's strong portfolio and partner base are contributing to its growth prospects continuously, thereby driving top-line growth.
The Zacks Consensus Estimate for 2023 revenues is pegged at $52.79 million, indicating 40.57% year-over-year growth. The consensus estimate for 2023 earnings is pegged at 6 cents per share, unchanged in the past 30 days.
Zacks Rank & Other Stocks to Consider
CXDO carries a Zacks Rank #2 (Buy).
Flex (FLEX - Free Report) , NetEase (NTES - Free Report) and Vertiv (VRT - Free Report) are other top-ranked stocks that investors can consider from the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FLEX, NTES and VRT shares have returned 39.4%, 42.1% and 260.3%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Flex, NetEase and Vertiv are pegged at 12.39%,15.98% and 53.86%, respectively.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
Get the latest research report on FLEX - FREE
Get the latest research report on NTES - FREE
Get the latest research report on CXDO - FREE
Get the latest research report on VRT - FREE