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

Shares of Crexendo Inc. (NASDAQ:CXDO) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $9.0833.

A number of analysts have recently commented on CXDO shares. Needham & Company LLC boosted their price objective on shares of Crexendo from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Northland Securities set a $10.00 target price on shares of Crexendo in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Crexendo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a research note on Tuesday, October 14th. Finally, B. Riley reaffirmed a “buy” rating and issued a $8.00 target price (up previously from $7.50) on shares of Crexendo in a research report on Wednesday, November 5th.

Crexendo Price Performance

Shares of Crexendo stock opened at $6.72 on Friday. The firm has a market cap of $206.51 million, a price-to-earnings ratio of 44.80 and a beta of 0.92. The stock’s 50-day moving average is $6.70 and its 200-day moving average is $6.37. Crexendo has a one year low of $3.75 and a one year high of $7.65.

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

Insider Transactions at Crexendo

In other news, 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 of the company’s stock, valued at approximately $1,750,843.85. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were 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 directly owned 230,398 shares of the company’s stock, valued at $1,670,385.50. This represents a 4.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,000 shares of company stock worth $470,210 in the last 90 days. Corporate insiders own 47.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey bought a new stake in Crexendo in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets raised its position 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 purchasing an additional 2,782 shares during the period. Huntington National Bank acquired a new stake in shares of Crexendo during the 2nd quarter worth about $30,000. Bank of America Corp DE boosted its holdings in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in Crexendo in the 2nd quarter valued at about $41,000. 9.53% of the stock is owned by institutional investors and hedge funds.

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.