Lake Street raised the firm’s price target on Crexendo (CXDO) to $9 from $8.50 and keeps a Buy rating on the shares. Picking up ESI for $35M marks the company’s biggest acquisition since 2021 and while this is a bigger target than Crexendo’s typical $5M-$10M reseller deal, the firm believes “they got the asset for a good price,” says the analyst, who adds that the firm believes the company’s greater scale will come with improved leverage.

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