Crexendo (NASDAQ:CXDO) Shares Up 1.5% – Here’s Why

Crexendo Inc. (NASDAQ:CXDO)’s share price traded up 1.5% during trading on Tuesday . The stock traded as high as $6.65 and last traded at $6.61. 124,051 shares changed hands during trading, a decline of 2% from the average session volume of 126,485 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

A number of brokerages have recently commented on CXDO. Wall Street Zen upgraded shares of 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 target on Crexendo in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Crexendo in a report on Tuesday, October 14th. Needham & Company LLC boosted their price target on Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, B. Riley reiterated a “buy” rating and issued a $8.00 price objective (up previously from $7.50) on shares of Crexendo in a research note on Wednesday, November 5th. Five research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.08.

Crexendo Stock Up 1.5%

The stock’s 50 day moving average price is $6.66 and its 200-day moving average price is $6.31. The stock has a market capitalization of $203.13 million, a PE ratio of 44.07 and a beta of 0.92.

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

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $7.25, for a total transaction of $72,500.00. Following the completion of the transaction, the chief executive officer owned 230,398 shares in the company, valued at $1,670,385.50. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Douglas Walter Gaylor sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $7.51, for a total value of $45,060.00. Following the completion of the sale, the chief operating officer owned 233,135 shares in the company, valued at approximately $1,750,843.85. The trade was a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 65,000 shares of company stock valued at $470,210. 47.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crexendo

Several hedge funds have recently bought and sold shares of CXDO. Police & Firemen s Retirement System of New Jersey purchased a new position in Crexendo in the 2nd quarter worth about $29,000. BNP Paribas Financial Markets boosted its position in Crexendo by 172.6% in 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 during the period. Huntington National Bank bought a new position in Crexendo in the 2nd quarter worth about $30,000. Bank of America Corp DE increased its position in shares of Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after acquiring an additional 2,578 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in shares of Crexendo during the second quarter worth approximately $41,000. Institutional investors own 9.53% of the company’s stock.

About Crexendo

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.