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

Shares of Crexendo Inc. (NASDAQ:CXDO) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.40.

Several brokerages have recently issued reports on CXDO. Needham & Company LLC lifted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital restated a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th.

Crexendo Price Performance

NASDAQ:CXDO opened at $7.62 on Friday. The business’s 50-day moving average price is $8.27 and its 200 day moving average price is $7.15. The firm has a market cap of $247.04 million, a P/E ratio of 50.80 and a beta of 1.11. Crexendo has a 52-week low of $5.26 and a 52-week high of $11.23.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The firm had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Sell-side analysts expect that Crexendo will post 0.36 EPS for the current year.

Insider Buying and Selling at Crexendo

In related news, CEO Jeffrey G. Korn sold 27,000 shares of Crexendo stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $9.94, for a total value of $268,380.00. Following the transaction, the chief executive officer owned 209,026 shares of the company’s stock, valued at approximately $2,077,718.44. This trade represents a 11.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Tzat-Kin Wang sold 25,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.49, for a total value of $187,250.00. Following the sale, the chief technology officer owned 559,747 shares in the company, valued at approximately $4,192,505.03. The trade was a 4.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 692,184 shares of company stock valued at $6,540,573 over the last 90 days. 47.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Potomac Capital Management Inc. purchased a new stake in shares of Crexendo in the 4th quarter valued at approximately $985,000. MidFirst Bank acquired a new position in Crexendo in the 4th quarter worth approximately $1,277,000. Globeflex Capital L P grew its position in Crexendo by 593.3% during the 4th quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock worth $838,000 after purchasing an additional 110,795 shares in the last quarter. Strive Financial Group LLC purchased a new position in Crexendo during the 4th quarter worth approximately $31,000. Finally, BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 2,782 shares during the period. 9.53% of the stock is owned by hedge funds and other institutional investors.

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.