Overview
CXAI stock has been on an impressive run in 2022, gaining over 400% year-to-date. With strong fundamentals and technicals, CXAI has robust upside potential moving forward.
Current Trading Level and Trend
Trading at $6.48 at the time of writing, CXAI stock has rallied from a 52-week low of $1.21. It recently hit a new 52-week high of $21 on high momentum before pulling back. Despite the recent consolidation, CXAI remains in a clear long-term uptrend.
Technically, CXAI stock is trading above its 50-day moving average of $5.15 and its 200-day moving average of $3.45. This demonstrates a bullish trend backed by positive momentum. The rising 20-day moving average is also signaling upward trajectory in the stock.
Growth Drivers and Financials
Fundamentally, CXAI is well-positioned for continued growth ahead. The company is a pioneer in applying artificial intelligence to enhance enterprise productivity and insights. With AI adoption growing rapidly, CXAI’s TAM is massive.
In Q3 2022, CXAI delivered 50% YoY revenue growth. Its client base expanded 40% and the company expects acceleration going forward. CXAI is already EBITDA positive and cash flow positive, displaying financial strength.
Conclusion and Price Target
Overall, CXAI exhibits a promising risk/reward profile. With strong tailwinds in its fast-growing industry, CXAI should be able to sustain high growth.
My 12-month price target for CXAI stock is $15, representing over 130% upside from current levels. Investors with a high risk appetite could consider building a position in CXAI to benefit from the next leg higher.
