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

Crexendo Inc. (NASDAQ:CXDO) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.40.

A number of analysts have recently issued reports on CXDO shares. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Needham & Company LLC increased their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th.

Crexendo Trading Up 7.5%

Crexendo stock opened at $8.03 on Friday. The firm has a market cap of $260.33 million, a price-to-earnings ratio of 53.53 and a beta of 1.11. The stock has a fifty day simple moving average of $8.23 and a two-hundred day simple moving average of $7.14. Crexendo has a 12 month low of $5.26 and a 12 month high of $11.23.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The company had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. On average, equities research analysts forecast that Crexendo will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Crexendo

In related news, CFO Ron Vincent sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.03, for a total value of $902,700.00. Following the transaction, the chief financial officer owned 117,490 shares of the company’s stock, valued at approximately $1,178,424.70. This trade represents a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey G. Korn sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $9.94, for a total transaction of $268,380.00. Following the completion of the transaction, the chief executive officer directly owned 209,026 shares in the company, valued at approximately $2,077,718.44. The trade was a 11.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 692,184 shares of company stock worth $6,540,573. 47.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crexendo

A number of institutional investors have recently bought and sold shares of CXDO. MidFirst Bank purchased a new position in Crexendo in the 4th quarter worth approximately $1,277,000. Geode Capital Management LLC raised its position in shares of Crexendo by 120.1% during the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after buying an additional 173,530 shares during the last quarter. Potomac Capital Management Inc. purchased a new position in shares of Crexendo in the fourth quarter worth $985,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Crexendo in the third quarter worth $805,000. Finally, Renaissance Technologies LLC boosted its position in shares of Crexendo by 52.3% during the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after acquiring an additional 119,037 shares during the last quarter. 9.53% of the stock is owned by institutional investors.

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.