Crexendo (NASDAQ:CXDO) Issues Quarterly Earnings Results

Crexendo (NASDAQ:CXDO) announced its quarterly earnings results on Tuesday. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01), Zacks reports. Crexendo had a return on equity of 11.33% and a net margin of 4.75%.

Crexendo Trading Down 7.4%

Shares of CXDO traded down $0.52 on Tuesday, reaching $6.46. 201,920 shares of the company’s stock traded hands, compared to its average volume of 180,746. The stock has a market cap of $198.33 million, a PE ratio of 64.61 and a beta of 0.83. The stock’s 50 day simple moving average is $6.43 and its two-hundred day simple moving average is $5.91. Crexendo has a 52-week low of $3.75 and a 52-week high of $7.34.

Wall Street Analyst Weigh In

CXDO has been the topic of several recent research reports. Needham & Company LLC increased their price target on Crexendo from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. D. Boral Capital increased their price target on Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Crexendo in a research note on Tuesday, October 14th. Finally, Lake Street Capital increased their price objective on Crexendo from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.80.

Insider Buying and Selling

In related news, CFO Ron Vincent sold 8,200 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $6.52, for a total transaction of $53,464.00. Following the completion of the sale, the chief financial officer directly owned 172,747 shares of the company’s stock, valued at approximately $1,126,310.44. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Douglas Walter Gaylor sold 10,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $6.76, for a total value of $67,600.00. Following the transaction, the chief operating officer directly owned 238,531 shares of the company’s stock, valued at approximately $1,612,469.56. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,400 shares of company stock valued at $141,896 over the last ninety days. 47.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crexendo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Crexendo by 120.1% during the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after purchasing an additional 173,530 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Crexendo by 23.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 306,654 shares of the company’s stock valued at $1,861,000 after purchasing an additional 59,149 shares during the period. Goldman Sachs Group Inc. bought a new position in Crexendo during the first quarter valued at $431,000. NewEdge Advisors LLC grew its holdings in Crexendo by 28.1% during the first quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after purchasing an additional 16,267 shares during the period. Finally, Jump Financial LLC grew its holdings in Crexendo by 142.3% during the second quarter. Jump Financial LLC now owns 53,356 shares of the company’s stock valued at $324,000 after purchasing an additional 31,332 shares during the period. 9.53% of the stock is owned by institutional investors.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.