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

Crexendo Inc. (NASDAQ:CXDO) has been assigned an average recommendation 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 1-year target price among brokerages that have covered the stock in the last year is $10.40.

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

Insider Buying and Selling

In related news, CRO Jon Brinton sold 114,795 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.14, for a total value of $1,049,226.30. Following the completion of the transaction, the executive directly owned 114,795 shares in the company, valued at approximately $1,049,226.30. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ron Vincent sold 46,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.84, for a total value of $452,640.00. Following the completion of the transaction, the chief financial officer owned 117,490 shares of the company’s stock, valued at $1,156,101.60. The trade was a 28.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 437,666 shares of company stock valued at $4,043,747 in the last ninety days. Company insiders own 47.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in 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 purchased a new position in Crexendo in the fourth quarter worth approximately $31,000. Bank of America Corp DE grew its position in 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. purchased a new position in Crexendo in the second quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Crexendo in the second quarter worth approximately $48,000. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Crexendo Price Performance

CXDO stock opened at $10.47 on Tuesday. The business has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $7.00. The firm has a market capitalization of $339.44 million, a PE ratio of 69.80 and a beta of 1.08. Crexendo has a 1 year low of $5.13 and a 1 year high of $11.23.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $20.71 million during 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, equities research analysts expect that Crexendo will post 0.36 EPS for the current year.

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.