Crexendo Inc. (NASDAQ:CXDO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

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

Crexendo Trading Down 1.7%

Shares of CXDO opened at $5.89 on Friday. Crexendo has a twelve month low of $3.75 and a twelve month high of $7.80. The firm has a market capitalization of $181.00 million, a P/E ratio of 39.27 and a beta of 0.93. The stock’s fifty day simple moving average is $6.70 and its 200 day simple moving average is $6.55.

Institutional Investors Weigh In On Crexendo

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of Crexendo by 172.6% during 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. Police & Firemen s Retirement System of New Jersey purchased a new position in Crexendo in the 2nd quarter worth approximately $29,000. Strive Financial Group LLC acquired a new stake in Crexendo in the fourth quarter valued at approximately $31,000. Huntington National Bank purchased a new stake in shares of Crexendo during the second quarter valued at approximately $30,000. Finally, Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 2,578 shares in the last quarter. Hedge funds and other 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.