Analysts Set Crexendo Inc. (NASDAQ:CXDO) PT at $10.40

Shares of Crexendo Inc. (NASDAQ:CXDO) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.40.

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

Insider Activity at Crexendo

In other news, CEO Jeffrey G. Korn sold 39,500 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.95, for a total value of $393,025.00. Following the completion of the sale, the chief executive officer directly owned 209,026 shares of the company’s stock, valued at $2,079,808.70. This represents a 15.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00. Following the completion of the sale, the chief technology officer owned 604,949 shares in the company, valued at $6,055,539.49. This represents a 3.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 692,184 shares of company stock worth $6,540,573. 47.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crexendo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after buying an additional 2,782 shares during the period. Strive Financial Group LLC acquired a new stake in Crexendo during the 4th quarter worth $31,000. Bank of America Corp DE lifted its holdings in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after acquiring an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Crexendo during the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Crexendo in the second quarter valued at about $48,000. 9.53% of the stock is owned by institutional investors.

Crexendo Price Performance

CXDO opened at $6.62 on Wednesday. The company has a market cap of $214.62 million, a price-to-earnings ratio of 44.13 and a beta of 1.11. The firm has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $7.26. Crexendo has a fifty-two week low of $5.26 and a fifty-two week high of $11.23.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The firm had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. As a group, analysts expect that Crexendo will post 0.36 EPS for the current year.

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.