Crexendo (NASDAQ:CXDO) Upgraded to Buy by B. Riley

B. Riley upgraded shares of Crexendo (NASDAQ:CXDO) from a neutral rating to a buy rating in a report issued on Wednesday morning, MarketBeat.com reports. They currently have $5.75 price objective on the stock, down from their previous price objective of $6.75.

Several other equities analysts have also weighed in on the stock. Lake Street Capital lifted their target price on shares of Crexendo from $5.50 to $7.00 and gave the company a buy rating in a report on Wednesday, March 6th. TheStreet upgraded shares of Crexendo from a d rating to a c rating in a research report on Tuesday, March 19th.

Crexendo Stock Performance

Shares of CXDO opened at $3.94 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 1.69. Crexendo has a one year low of $1.24 and a one year high of $7.59. The stock has a 50-day moving average of $4.85 and a two-hundred day moving average of $4.42. The stock has a market cap of $101.26 million, a P/E ratio of -197.00 and a beta of 1.16.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Crexendo had a positive return on equity of 6.60% and a negative net margin of 0.68%. The firm had revenue of $14.16 million for the quarter, compared to the consensus estimate of $13.76 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. As a group, research analysts predict that Crexendo will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Crexendo news, CTO David Tzat-Kin Wang sold 20,000 shares of Crexendo stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $5.51, for a total transaction of $110,200.00. Following the sale, the chief technology officer now owns 437,402 shares of the company’s stock, valued at approximately $2,410,085.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 56.60% of the stock is owned by company insiders.

Institutional Trading of Crexendo

Large investors have recently bought and sold shares of the business. AJOVista LLC purchased a new stake in shares of Crexendo in the fourth quarter valued at approximately $47,000. Simplicity Wealth LLC purchased a new position in shares of Crexendo during the 1st quarter worth $53,000. SG Americas Securities LLC acquired a new position in shares of Crexendo during the 1st quarter valued at about $55,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Crexendo in the fourth quarter valued at about $108,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.