Crexendo (NASDAQ:CXDO) Trading Up 1.5% – Still a Buy?

Shares of Crexendo Inc. (NASDAQ:CXDO) were up 1.5% during trading on Tuesday . The stock traded as high as $6.65 and last traded at $6.61. Approximately 124,051 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 126,485 shares. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

A number of research firms recently commented on CXDO. Needham & Company LLC lifted their price target on shares of Crexendo from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a research note on Tuesday, October 14th. Wall Street Zen upgraded Crexendo from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Northland Securities set a $10.00 price objective on Crexendo in a research note on Wednesday, November 5th. Finally, B. Riley reiterated a “buy” rating and set a $8.00 target price (up previously from $7.50) on shares of Crexendo in a research report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.08.

Crexendo Stock Up 1.5%

The stock has a market capitalization of $203.13 million, a P/E ratio of 44.07 and a beta of 0.92. The company has a 50-day moving average price of $6.66 and a two-hundred day moving average price of $6.31.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, June 7th. The company reported $0.02 earnings per share for the quarter. Crexendo had a net margin of 6.58% and a return on equity of 13.09%. The business had revenue of $4.51 million for the quarter. On average, sell-side analysts expect that Crexendo Inc. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $7.14, for a total value of $71,400.00. Following the sale, the chief executive officer directly owned 240,398 shares of the company’s stock, valued at $1,716,441.72. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ron Vincent sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $7.05, for a total transaction of $105,750.00. Following the completion of the transaction, the chief financial officer owned 175,809 shares of the company’s stock, valued at $1,239,453.45. This trade represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,000 shares of company stock worth $470,210 over the last ninety days. 47.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its position in shares of Crexendo by 3.3% during the third quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock valued at $4,846,000 after buying an additional 23,676 shares during the period. Vanguard Group Inc. increased its holdings in shares of Crexendo by 11.2% during the third quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock valued at $4,562,000 after acquiring an additional 70,791 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Crexendo by 39.2% in the second quarter. Acadian Asset Management LLC now owns 470,081 shares of the company’s stock worth $2,850,000 after buying an additional 132,294 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Crexendo by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 322,886 shares of the company’s stock valued at $2,099,000 after purchasing an additional 15,926 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Crexendo by 4.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 320,499 shares of the company’s stock worth $2,083,000 after purchasing an additional 13,845 shares in the last quarter. Institutional investors own 9.53% of the company’s stock.

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.