Shares of Crexendo Inc. (NASDAQ:CXDO – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.40.
A number of research firms have commented on CXDO. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Needham & Company LLC increased their target price 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. Finally, Lake Street Capital reissued a “buy” rating and set a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th.
Read Our Latest Report on Crexendo
Crexendo Trading Down 0.7%
Crexendo (NASDAQ:CXDO – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. As a group, equities research analysts forecast that Crexendo will post 0.36 EPS for the current fiscal year.
Insider Activity at Crexendo
In other news, CFO Ron Vincent sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.03, for a total value of $902,700.00. Following the transaction, the chief financial officer owned 117,490 shares of the company’s stock, valued at approximately $1,178,424.70. The trade was a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David Tzat-Kin Wang sold 25,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,192,505.03. This trade represents a 4.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 692,184 shares of company stock worth $6,540,573 in the last ninety days. Company insiders own 47.20% of the company’s stock.
Hedge Funds Weigh In On Crexendo
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. raised its position in Crexendo by 3.5% during the 1st quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after buying an additional 1,311 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Crexendo by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after acquiring an additional 2,260 shares during the period. Bank of America Corp DE boosted its holdings in shares of Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Crexendo by 172.6% in the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Occudo Quantitative Strategies LP increased its stake in shares of Crexendo by 20.4% during the fourth quarter. Occudo Quantitative Strategies LP now owns 18,016 shares of the company’s stock worth $117,000 after acquiring an additional 3,056 shares during the period. 9.53% of the stock is currently 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.
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