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

Crexendo Inc. (NASDAQ:CXDO) has earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.40.

A number of equities research analysts have recently issued reports on CXDO shares. Needham & Company LLC increased their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings raised 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 report on Wednesday, May 6th.

Insider Buying and Selling at Crexendo

In other news, COO Douglas Walter Gaylor sold 55,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $10.00, for a total value of $550,000.00. Following the completion of the transaction, the chief operating officer directly owned 227,816 shares in the company, valued at approximately $2,278,160. This represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jon Brinton sold 114,795 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $9.14, for a total transaction of $1,049,226.30. Following the sale, the executive directly owned 114,795 shares of the company’s stock, valued at approximately $1,049,226.30. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 692,184 shares of company stock valued at $6,540,573. 47.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crexendo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CXDO. Bank of America Corp DE grew its stake in shares of Crexendo by 47.6% during the first quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock valued at $481,000 after acquiring an additional 25,161 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Crexendo in the first quarter worth about $155,000. Renaissance Technologies LLC lifted its stake in shares of Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after acquiring an additional 119,037 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Crexendo by 26.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock valued at $2,508,000 after purchasing an additional 85,943 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Crexendo by 31.9% in the first quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock valued at $1,492,000 after purchasing an additional 58,518 shares during the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Crexendo Trading Up 1.4%

Shares of Crexendo stock opened at $7.80 on Wednesday. Crexendo has a twelve month low of $5.26 and a twelve month high of $11.23. The stock has a market cap of $252.88 million, a price-to-earnings ratio of 52.00 and a beta of 1.11. The company has a fifty day moving average price of $8.25 and a 200 day moving average price of $7.25.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The company 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%. Analysts forecast that Crexendo will post 0.36 earnings per share for the current 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.