Crexendo Inc. (NASDAQ:CXDO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Crexendo Inc. (NASDAQ:CXDO) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.40.

CXDO has been the subject of several recent analyst reports. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Finally, Needham & Company LLC lifted their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

Insiders Place Their Bets

In other Crexendo news, CTO David Tzat-Kin Wang sold 25,000 shares of Crexendo stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total value of $250,250.00. Following the completion of the transaction, the chief technology officer directly owned 604,949 shares of the company’s stock, valued at approximately $6,055,539.49. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ron Vincent sold 90,000 shares of Crexendo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.03, for a total transaction of $902,700.00. Following the completion of the sale, the chief financial officer owned 117,490 shares of the company’s stock, valued at $1,178,424.70. This represents a 43.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 662,666 shares of company stock valued at $6,311,947. 47.20% of the stock is owned by company insiders.

Institutional Trading of Crexendo

A number of large investors have recently made changes to their positions in CXDO. BNP Paribas Financial Markets grew 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 worth $29,000 after acquiring an additional 2,782 shares during the period. Strive Financial Group LLC bought a new stake in shares of Crexendo in the fourth quarter worth approximately $31,000. Bank of America Corp DE grew 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 acquiring an additional 2,578 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Crexendo in the second quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Crexendo in the second quarter worth approximately $48,000. 9.53% of the stock is currently owned by institutional investors.

Crexendo Stock Performance

Shares of Crexendo stock opened at $7.57 on Tuesday. The stock has a market capitalization of $245.42 million, a PE ratio of 50.47 and a beta of 1.08. Crexendo has a 52-week low of $5.13 and a 52-week high of $11.23. The company has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $7.06.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. As a group, equities research analysts forecast that Crexendo will post 0.36 EPS for the current fiscal 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.