Crexendo Inc. (NASDAQ:CXDO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Crexendo Inc. (NASDAQ:CXDO) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.1667.

Several analysts have recently commented on CXDO shares. Needham & Company LLC reissued a “buy” rating on shares of Crexendo in a research note on Monday, March 2nd. Wall Street Zen cut shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. Finally, Lake Street Capital increased their price objective on Crexendo from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd.

Crexendo Stock Up 3.0%

Shares of NASDAQ CXDO opened at $6.48 on Thursday. The firm’s 50-day simple moving average is $6.57 and its 200 day simple moving average is $6.59. The company has a market cap of $201.85 million, a price-to-earnings ratio of 38.12 and a beta of 0.98. Crexendo has a 12-month low of $3.75 and a 12-month high of $7.80.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Crexendo had a net margin of 7.44% and a return on equity of 13.74%. The firm had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $18.14 million. On average, equities analysts expect that Crexendo will post 0.14 earnings per share for the current year.

Insider Activity

In related news, CTO David Tzat-Kin Wang sold 20,482 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $7.00, for a total value of $143,374.00. Following the transaction, the chief technology officer owned 629,949 shares in the company, valued at $4,409,643. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 47.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently modified their holdings of the business. MidFirst Bank bought a new stake in shares of Crexendo during the 4th quarter valued at $1,277,000. Geode Capital Management LLC boosted its position in shares of Crexendo by 120.1% in the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock worth $1,930,000 after purchasing an additional 173,530 shares during the last quarter. Potomac Capital Management Inc. bought a new position in shares of Crexendo in the 4th quarter worth $985,000. Pembroke Management LTD grew its stake in shares of Crexendo by 209.3% during the third quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock worth $1,270,000 after purchasing an additional 132,201 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Crexendo during the third quarter worth $805,000. 9.53% of the stock is owned by institutional investors.

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.