Crexendo Inc. (NASDAQ:CXDO) Receives $10.40 Average Price Target from Analysts

Shares of Crexendo Inc. (NASDAQ:CXDO) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.40.

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

Crexendo Stock Performance

Crexendo stock opened at $6.62 on Wednesday. The stock has a market capitalization of $214.62 million, a P/E ratio of 44.13 and a beta of 1.11. The company’s fifty day moving average price is $8.08 and its 200 day moving average price is $7.26. Crexendo has a 1 year low of $5.26 and a 1 year high of $11.23.

Crexendo (NASDAQ:CXDO) last posted 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. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $20.71 million for the quarter, compared to the consensus estimate of $19.63 million. Sell-side analysts predict that Crexendo will post 0.36 EPS for the current year.

Insider Transactions at Crexendo

In other news, COO Douglas Walter Gaylor sold 5,000 shares of Crexendo stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $10.35, for a total value of $51,750.00. Following the sale, the chief operating officer directly owned 222,816 shares of the company’s stock, valued at $2,306,145.60. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey G. Korn sold 27,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.94, for a total value of $268,380.00. Following the completion of the transaction, the chief executive officer directly owned 209,026 shares of the company’s stock, valued at approximately $2,077,718.44. This represents a 11.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 692,184 shares of company stock valued at $6,540,573. Insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

A number of hedge funds have recently modified their holdings of CXDO. Bank of America Corp DE boosted its position in 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 last quarter. NewEdge Advisors LLC grew its stake in Crexendo by 28.1% during the 1st quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after acquiring an additional 16,267 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Crexendo in the 1st quarter valued at about $431,000. Geode Capital Management LLC raised its holdings in Crexendo by 120.1% in the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after acquiring an additional 173,530 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Crexendo in the 2nd quarter worth approximately $41,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.

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.