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

Crexendo Inc. (NASDAQ:CXDO) has been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.40.

Several equities research analysts have commented on the company. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Needham & Company LLC boosted their target price on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th.

Insider Buying and Selling

In other news, CFO Ron Vincent sold 90,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $10.03, for a total transaction of $902,700.00. Following the sale, the chief financial officer directly owned 117,490 shares in the company, valued at $1,178,424.70. This trade represents a 43.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jon Brinton sold 114,795 shares of Crexendo stock in a transaction dated Wednesday, May 6th. The shares were 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 owned 114,795 shares of the company’s stock, valued at approximately $1,049,226.30. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 642,184 shares of company stock valued at $6,168,573 in the last ninety days. Company insiders own 47.20% of the company’s stock.

Institutional Trading of Crexendo

Several institutional investors have recently bought and sold shares of CXDO. BNP Paribas Financial Markets lifted its position in shares of Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after buying an additional 2,782 shares in the last quarter. Strive Financial Group LLC purchased a new position in Crexendo during the fourth quarter valued at $31,000. Bank of America Corp DE lifted its holdings in Crexendo by 71.7% during the fourth 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. acquired a new stake in shares of Crexendo in the second quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Crexendo in the second quarter valued at about $48,000. 9.53% of the stock is owned by institutional investors and hedge funds.

Crexendo Stock Performance

Shares of CXDO opened at $7.69 on Tuesday. The business’s 50-day moving average is $7.91 and its two-hundred day moving average is $7.07. The company has a market capitalization of $249.31 million, a P/E ratio of 51.27 and a beta of 1.08. Crexendo has a fifty-two week low of $5.13 and a fifty-two week high of $11.23.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to analysts’ expectations 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 EPS 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.