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

Shares of Crexendo Inc. (NASDAQ:CXDO) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.0833.

CXDO has been the topic of several research reports. Northland Securities set a $10.00 price target on shares of Crexendo in a report on Wednesday, November 5th. B. Riley Financial restated a “buy” rating and issued a $8.00 price target (up from $7.50) on shares of Crexendo in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. Finally, Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd.

Hedge Funds Weigh In On Crexendo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CXDO. BNP Paribas Financial Markets raised its stake 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 in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Crexendo during the second quarter worth about $29,000. Strive Financial Group LLC bought a new stake in Crexendo in the fourth quarter worth about $31,000. Huntington National Bank acquired a new stake in Crexendo in the 2nd quarter valued at about $30,000. Finally, 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 valued at $32,000 after purchasing an additional 2,578 shares in the last quarter. 9.53% of the stock is owned by institutional investors.

Crexendo Price Performance

CXDO opened at $5.84 on Friday. Crexendo has a 12 month low of $3.75 and a 12 month high of $7.80. The business has a 50-day moving average of $6.60 and a two-hundred day moving average of $6.54. The stock has a market capitalization of $179.46 million, a price-to-earnings ratio of 38.94 and a beta of 0.93.

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.