Crexendo (NASDAQ:CXDO) Price Target Raised to $9.00

Crexendo (NASDAQ:CXDO) had its target price boosted by Needham & Company LLC from $8.00 to $9.00 in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on the company. Lake Street Capital boosted their target price on Crexendo from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a research report on Tuesday, October 14th. D. Boral Capital boosted their target price on Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.80.

Crexendo Stock Performance

Shares of CXDO stock opened at $6.47 on Thursday. Crexendo has a 52-week low of $3.75 and a 52-week high of $7.34. The company has a market capitalization of $198.64 million, a PE ratio of 64.71 and a beta of 0.83. The business’s fifty day moving average is $6.41 and its 200 day moving average is $5.89.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, June 7th. The company reported $0.02 EPS for the quarter. Crexendo had a return on equity of 11.33% and a net margin of 4.75%.The business had revenue of $4.51 million during the quarter. On average, sell-side analysts forecast that Crexendo will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Crexendo news, CFO Ron Vincent sold 8,200 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $6.52, for a total value 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 $1,126,310.44. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Douglas Walter Gaylor sold 10,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $6.76, for a total transaction of $67,600.00. Following the completion of the sale, the chief operating officer directly owned 238,531 shares of the company’s stock, valued at $1,612,469.56. This represents a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,400 shares of company stock valued at $141,896 over the last ninety days. 47.20% of the stock is currently owned by insiders.

Institutional Trading of Crexendo

Several hedge funds have recently added to or reduced their stakes in the business. Bard Associates Inc. boosted its holdings in Crexendo by 13.3% during the 1st quarter. Bard Associates Inc. now owns 666,093 shares of the company’s stock valued at $3,244,000 after acquiring an additional 77,968 shares during the period. Acadian Asset Management LLC boosted its holdings in Crexendo by 39.2% during the 2nd quarter. Acadian Asset Management LLC now owns 470,081 shares of the company’s stock valued at $2,850,000 after acquiring an additional 132,294 shares during the period. Geode Capital Management LLC boosted its holdings in Crexendo by 120.1% during 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 period. Arrowstreet Capital Limited Partnership boosted its holdings in Crexendo by 23.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 306,654 shares of the company’s stock valued at $1,861,000 after acquiring an additional 59,149 shares during the period. Finally, Pembroke Management LTD boosted its holdings in Crexendo by 209.3% during the 3rd quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock valued at $1,270,000 after acquiring an additional 132,201 shares during the period. 9.53% of the stock is owned by institutional investors.

Crexendo Company Profile

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.