Brokerages Set Crexendo Inc. (NASDAQ:CXDO) Target Price at $9.08

Shares of Crexendo Inc. (NASDAQ:CXDO) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $9.0833.

Several equities analysts have commented on CXDO shares. B. Riley Financial reiterated a “buy” rating and issued a $8.00 target price (up from $7.50) on shares of Crexendo in a research report on Wednesday, November 5th. Northland Securities set a $10.00 price objective 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 report on Friday, January 9th. Wall Street Zen cut shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Needham & Company LLC raised their price target on shares of Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, October 30th.

Institutional Investors Weigh In On Crexendo

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in shares of Crexendo by 172.6% in the third 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. Police & Firemen s Retirement System of New Jersey bought a new stake in Crexendo in the second quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new stake in Crexendo during the 4th quarter valued at approximately $31,000. Huntington National Bank acquired a new stake in Crexendo during the 2nd quarter valued at approximately $30,000. Finally, Bank of America Corp DE raised its holdings in 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 purchasing an additional 2,578 shares during the last quarter. Institutional investors own 9.53% of the company’s stock.

Crexendo Stock Performance

NASDAQ CXDO opened at $5.95 on Friday. The firm’s fifty day moving average price is $6.62 and its two-hundred day moving average price is $6.53. The stock has a market cap of $182.84 million, a PE ratio of 39.67 and a beta of 0.93. Crexendo has a fifty-two week low of $3.75 and a fifty-two week high of $7.80.

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.