Brokerages Set Crexendo Inc. (NASDAQ:CXDO) Target Price at $9.08

Shares of Crexendo Inc. (NASDAQ:CXDO) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.0833.

A number of research firms recently commented on CXDO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a research note on Friday, January 9th. Needham & Company LLC upped their target price on shares of Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wall Street Zen cut shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. B. Riley reiterated a “buy” rating and set a $8.00 price target (up from $7.50) on shares of Crexendo in a report on Wednesday, November 5th. Finally, Northland Securities set a $10.00 price objective on shares of Crexendo in a research note on Wednesday, November 5th.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Korn sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $7.14, for a total value of $71,400.00. Following the completion of the transaction, the chief executive officer directly owned 240,398 shares in the company, valued at approximately $1,716,441.72. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ron Vincent sold 15,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $7.05, for a total value of $105,750.00. Following the transaction, the chief financial officer owned 175,809 shares in the company, valued at $1,239,453.45. This trade represents a 7.86% 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 65,000 shares of company stock valued at $470,210 in the last quarter. 47.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC lifted its holdings in shares of Crexendo by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock worth $4,846,000 after acquiring an additional 23,676 shares during the period. Vanguard Group Inc. grew its holdings in Crexendo by 11.2% in the third quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock valued at $4,562,000 after purchasing an additional 70,791 shares during the period. Acadian Asset Management LLC increased its position in Crexendo by 39.2% during the second quarter. Acadian Asset Management LLC now owns 470,081 shares of the company’s stock worth $2,850,000 after purchasing an additional 132,294 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Crexendo by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 322,886 shares of the company’s stock worth $2,099,000 after purchasing an additional 15,926 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Crexendo by 4.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 320,499 shares of the company’s stock valued at $2,083,000 after purchasing an additional 13,845 shares during the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Price Performance

Shares of CXDO opened at $7.00 on Wednesday. Crexendo has a 1-year low of $3.75 and a 1-year high of $7.80. The stock has a market cap of $215.12 million, a price-to-earnings ratio of 46.67 and a beta of 0.92. The firm has a 50 day simple moving average of $6.85 and a 200-day simple moving average of $6.48.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $17.50 million for the quarter, compared to analyst estimates of $17.02 million. Crexendo had a return on equity of 13.09% and a net margin of 6.58%. On average, equities analysts expect that Crexendo will post 0.14 earnings per share for the current fiscal year.

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.