Crexendo (NASDAQ:CXDO) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Crexendo (NASDAQ:CXDO) released its quarterly earnings data on Tuesday. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01, FiscalAI reports. Crexendo had a net margin of 6.58% and a return on equity of 13.09%. The firm had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $18.14 million.

Crexendo Price Performance

Shares of CXDO stock traded up $0.08 during trading hours on Tuesday, reaching $6.49. 348,015 shares of the company traded hands, compared to its average volume of 160,523. The firm has a 50-day moving average price of $6.59 and a 200 day moving average price of $6.54. The company has a market cap of $199.44 million, a P/E ratio of 43.27 and a beta of 0.93. Crexendo has a 12-month low of $3.75 and a 12-month high of $7.80.

Hedge Funds Weigh In On Crexendo

A number of hedge funds have recently modified their holdings of CXDO. BNP Paribas Financial Markets boosted its holdings in shares of Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after purchasing an additional 2,782 shares during the period. Strive Financial Group LLC purchased a new position in Crexendo during the 4th quarter worth $31,000. Bank of America Corp DE raised its position in 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. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo in the 2nd quarter worth $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Crexendo during the 2nd quarter worth $48,000. 9.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. B. Riley Financial reissued a “buy” rating and set a $8.00 price target (up from $7.50) on shares of Crexendo in a report on Wednesday, November 5th. Northland Securities set a $10.00 target price on Crexendo in a report on Wednesday, November 5th. Lake Street Capital raised their target price on Crexendo from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a research report on Friday, January 9th. Finally, Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.17.

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.