Crexendo (NASDAQ:CXDO) Lowered to “Buy” Rating by Wall Street Zen

Crexendo (NASDAQ:CXDO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

A number of other equities analysts have also commented on the stock. B. Riley reiterated a “buy” rating and issued a $8.00 price objective (up previously from $7.50) on shares of Crexendo in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Crexendo in a research note on Friday, January 9th. Northland Securities set a $10.00 price target on Crexendo in a report on Wednesday, November 5th. Finally, Needham & Company LLC raised their price objective on Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Crexendo currently has an average rating of “Moderate Buy” and an average target price of $9.08.

Crexendo Trading Down 0.7%

NASDAQ:CXDO traded down $0.05 during trading hours on Friday, hitting $7.45. The stock had a trading volume of 120,892 shares, compared to its average volume of 112,554. The company has a market cap of $228.94 million, a PE ratio of 49.67 and a beta of 0.92. The business has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $6.44. Crexendo has a 1-year low of $3.75 and a 1-year high of $7.80.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $17.50 million for the quarter, compared to analysts’ expectations of $17.02 million. Crexendo had a net margin of 6.58% and a return on equity of 13.09%. Research analysts expect that Crexendo will post 0.14 EPS for the current fiscal year.

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 10,000 shares of Crexendo stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $7.25, for a total value of $72,500.00. Following the completion of the transaction, the chief executive officer owned 230,398 shares of the company’s stock, valued at $1,670,385.50. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Douglas Walter Gaylor sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $7.51, for a total transaction of $45,060.00. Following the sale, the chief operating officer owned 233,135 shares of the company’s stock, valued at approximately $1,750,843.85. The trade was a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 65,000 shares of company stock worth $470,210. 47.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CXDO. Essex Investment Management Co. LLC grew its position in shares of Crexendo by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock valued at $4,846,000 after buying an additional 23,676 shares during the last quarter. Vanguard Group Inc. boosted its stake in Crexendo by 11.2% in the third quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock valued at $4,562,000 after acquiring an additional 70,791 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Crexendo by 39.2% during the second quarter. Acadian Asset Management LLC now owns 470,081 shares of the company’s stock valued at $2,850,000 after purchasing an additional 132,294 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Crexendo by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 322,886 shares of the company’s stock valued at $2,099,000 after purchasing an additional 15,926 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Crexendo by 4.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 320,499 shares of the company’s stock worth $2,083,000 after purchasing an additional 13,845 shares during the period. 9.53% of the stock is owned by institutional investors and hedge funds.

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.