Wall Street Zen Downgrades Crexendo (NASDAQ:CXDO) to Buy

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

CXDO has been the subject of several other reports. Northland Securities set a $10.00 price target on shares of Crexendo in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. B. Riley reaffirmed a “buy” rating and set a $8.00 target price (up from $7.50) on shares of Crexendo in a report on Wednesday, November 5th. Finally, Needham & Company LLC upped their price target on Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Crexendo currently has an average rating of “Moderate Buy” and an average price target of $9.08.

Crexendo Stock Down 0.7%

Shares of CXDO opened at $7.45 on Friday. The stock has a market cap of $228.95 million, a PE ratio of 49.67 and a beta of 0.92. Crexendo has a 12-month low of $3.75 and a 12-month high of $7.80. The business has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $6.45.

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

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 10,000 shares of Crexendo stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $7.14, for a total value of $71,400.00. Following the completion of the sale, the chief executive officer directly owned 240,398 shares in the company, valued at approximately $1,716,441.72. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Douglas Walter Gaylor sold 10,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $7.17, for a total value of $71,700.00. Following the transaction, the chief operating officer owned 243,135 shares in the company, valued at $1,743,277.95. The trade was a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,000 shares of company stock valued at $470,210 in the last ninety days. 47.20% of the stock is owned by company insiders.

Institutional Trading of Crexendo

Several hedge funds have recently modified their holdings of CXDO. Police & Firemen s Retirement System of New Jersey bought a new position in Crexendo during the second quarter worth $29,000. BNP Paribas Financial Markets raised its holdings in shares of Crexendo by 172.6% during the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after purchasing an additional 2,782 shares during the period. Huntington National Bank bought a new position in shares of Crexendo during the 2nd quarter worth about $30,000. Bank of America Corp DE boosted its position in shares of 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 in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Crexendo in the 2nd quarter valued at about $41,000. Institutional investors own 9.53% of the company’s stock.

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.