10 Best Telecom Stocks to Buy According to Wall Street Analysts

6. Crexendo Inc. (NASDAQ:CXDO)

Number of Hedge Fund Holders: 17

Average Upside Potential as of June 24: 38.41%

Crexendo Inc. (NASDAQ:CXDO) is one of the best telecom stocks to buy according to Wall Street analysts. On June 24, Crexendo announced that BCN made a significant strategic investment aimed at expanding the capacity of BCN’s IP Voice services, which are built on Crexendo’s NetSapiens platform.

BCN’s Cloud Voice services are experiencing an accelerating demand for IP-enabled solutions, such as UCaaS, Call Center functionalities, SIP trunking, and Plain Old Telephone Service/POTS replacement. The expansion is crucial for BCN to support businesses transitioning from outdated and traditional TDM (Time-Division Multiplexing) infrastructure to more modern and scalable communication systems.

POTS replacement refers to the process of transitioning from traditional analog telephone lines/POTS to modern digital communication systems like VoIP, cellular, or cloud-based solutions. The President and COO of BCN, Julian Jacquez, believes that the high adoption of the company’s POTS Replacement solutions has driven this capacity increase. With increased platform capacity, BCN is positioned to better support its nationwide network of technology advisors.

Crexendo Inc. (NASDAQ:CXDO) provides cloud communication platform software and unified communications as a service in the US and internationally. BCN is a US-based managed network and technology solutions provider.