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

Shares of Crexendo Inc. (NASDAQ:CXDO) have earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.40.

A number of analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th.

Crexendo Stock Up 4.5%

NASDAQ:CXDO opened at $7.23 on Friday. The stock’s 50-day simple moving average is $8.17 and its 200 day simple moving average is $7.12. The firm has a market capitalization of $234.40 million, a PE ratio of 48.20 and a beta of 1.08. Crexendo has a twelve month low of $5.26 and a twelve month high of $11.23.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. On average, analysts anticipate that Crexendo will post 0.36 EPS for the current fiscal year.

Insider Transactions at Crexendo

In other news, CTO David Tzat-Kin Wang sold 25,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.49, for a total transaction of $187,250.00. Following the sale, the chief technology officer directly owned 559,747 shares in the company, valued at approximately $4,192,505.03. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey G. Korn sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.94, for a total value of $268,380.00. Following the completion of the transaction, the chief executive officer directly owned 209,026 shares of the company’s stock, valued at $2,077,718.44. This represents a 11.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 692,184 shares of company stock valued at $6,540,573. Corporate insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

A number of institutional investors have recently added to or reduced their stakes in CXDO. MidFirst Bank acquired a new position in Crexendo in the 4th quarter valued at approximately $1,277,000. Geode Capital Management LLC increased its position in Crexendo by 120.1% in the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after acquiring an additional 173,530 shares during the period. Potomac Capital Management Inc. bought a new stake in shares of Crexendo in the fourth quarter worth $985,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Crexendo in the third quarter worth $805,000. Finally, Renaissance Technologies LLC increased its holdings in Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock valued at $2,139,000 after purchasing an additional 119,037 shares during the period. 9.53% of the stock is owned by institutional investors.

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.