Analysts Set Crexendo Inc. (NASDAQ:CXDO) Price Target at $9.17

Crexendo Inc. (NASDAQ:CXDO) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $9.1667.

CXDO has been the topic of a number of recent research reports. Wall Street Zen downgraded Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Lake Street Capital boosted their price target on Crexendo from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a research report on Friday, January 9th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Crexendo in a report on Monday, March 2nd.

Insider Buying and Selling

In other Crexendo news, CTO David Tzat-Kin Wang sold 20,482 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $7.00, for a total value of $143,374.00. Following the transaction, the chief technology officer directly owned 629,949 shares in the company, valued at approximately $4,409,643. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

A number of hedge funds have recently modified their holdings of the business. Pembroke Management LTD raised its holdings in Crexendo by 209.3% in the 3rd quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock worth $1,270,000 after purchasing an additional 132,201 shares during the period. ARS Investment Partners LLC grew its holdings in Crexendo by 18.3% during the second quarter. ARS Investment Partners LLC now owns 54,990 shares of the company’s stock valued at $334,000 after purchasing an additional 8,491 shares during the period. CreativeOne Wealth LLC purchased a new stake in Crexendo in the second quarter worth about $85,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Crexendo in the second quarter worth about $29,000. Finally, Bank of America Corp DE raised its stake in shares of Crexendo by 71.7% in the fourth 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. Institutional investors own 9.53% of the company’s stock.

Crexendo Price Performance

Shares of Crexendo stock opened at $6.23 on Thursday. The stock has a market capitalization of $194.13 million, a P/E ratio of 36.66 and a beta of 0.98. The business’s 50 day simple moving average is $6.60 and its two-hundred day simple moving average is $6.59. Crexendo has a one year low of $3.75 and a one year high of $7.80.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Crexendo had a return on equity of 13.74% and a net margin of 7.44%.The firm had revenue of $18.06 million for the quarter, compared to analysts’ expectations of $18.14 million. Sell-side analysts expect that Crexendo will post 0.14 earnings per share for the current fiscal year.

About Crexendo

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.