Crexendo Inc. (NASDAQ:CXDO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Crexendo Inc. (NASDAQ:CXDO) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.0833.

CXDO has been the subject of several research analyst reports. Northland Securities set a $10.00 price objective on shares of Crexendo in a research report on Wednesday, November 5th. B. Riley restated a “buy” rating and set a $8.00 target price (up previously from $7.50) on shares of Crexendo in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a research note on Friday, January 9th. Needham & Company LLC raised their price target on Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Wall Street Zen cut Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd.

Crexendo Stock Down 2.2%

Crexendo stock opened at $7.11 on Wednesday. The stock has a 50-day simple moving average of $6.79 and a 200 day simple moving average of $6.47. Crexendo has a 12-month low of $3.75 and a 12-month high of $7.80. The stock has a market capitalization of $218.50 million, a price-to-earnings ratio of 47.40 and a beta of 0.92.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Crexendo had a net margin of 6.58% and a return on equity of 13.09%. The firm had revenue of $17.50 million for the quarter, compared to analyst estimates of $17.02 million. As a group, sell-side analysts anticipate that Crexendo will post 0.14 EPS for the current year.

Insider Activity at Crexendo

In other news, CFO Ron Vincent sold 15,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $7.05, for a total value of $105,750.00. Following the transaction, the chief financial officer owned 175,809 shares of the company’s stock, valued at $1,239,453.45. This represents a 7.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $7.14, for a total value of $71,400.00. Following the completion of the transaction, the chief executive officer owned 240,398 shares in the company, valued at $1,716,441.72. This represents a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,000 shares of company stock worth $470,210 over the last ninety days. Company insiders own 47.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

Several hedge funds have recently added to or reduced their stakes in CXDO. Bank of America Corp DE grew its position in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares during the period. NewEdge Advisors LLC boosted its stake in Crexendo by 28.1% during the 1st quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock worth $361,000 after acquiring an additional 16,267 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Crexendo during the first quarter valued at approximately $431,000. Huntington National Bank bought a new stake in Crexendo in the second quarter valued at approximately $30,000. Finally, Prospera Financial Services Inc bought a new stake in Crexendo in the second quarter valued at approximately $118,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Company Profile

Crexendo, Inc (NASDAQ: CXDO) is a provider of cloud-based communications and collaboration solutions tailored to businesses of varying sizes. The company’s flagship offering, CXsuite, integrates enterprise-grade voice, video conferencing, instant messaging, presence, and contact center functionality into a single platform delivered over the internet. By leveraging hosted infrastructure and a subscription-based model, Crexendo aims to reduce on-premises hardware costs and simplify management for IT teams and resellers.

Crexendo’s product portfolio includes a multi-tenant cloud PBX, SIP trunking, session border controllers and an application programming interface (API) suite that allows partners and customers to embed real-time communications into custom workflows.