Crexendo (NASDAQ:CXDO) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Crexendo (NASDAQ:CXDO) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Several other analysts have also issued reports on CXDO. B. Riley restated a “buy” rating and issued a $8.00 price objective (up from $7.50) on shares of Crexendo in a report on Wednesday, November 5th. Northland Securities set a $10.00 price target on shares of Crexendo in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. Finally, Needham & Company LLC lifted 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. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Crexendo presently has a consensus rating of “Moderate Buy” and an average price target of $9.08.

Crexendo Stock Performance

CXDO stock opened at $7.45 on Friday. Crexendo has a one year low of $3.75 and a one year high of $7.80. The firm has a market cap of $228.94 million, a PE ratio of 49.67 and a beta of 0.92. The firm’s 50 day moving average price is $6.75 and its 200-day moving average price is $6.44.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Crexendo had a return on equity of 13.09% and a net margin of 6.58%.The company had revenue of $17.50 million during the quarter, compared to analysts’ expectations of $17.02 million. Equities research analysts predict that Crexendo will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Crexendo news, CFO Ron Vincent sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $7.38, for a total value of $73,800.00. Following the completion of the transaction, the chief financial officer owned 165,809 shares in the company, valued at $1,223,670.42. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Douglas Walter Gaylor sold 6,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer directly owned 233,135 shares in the company, valued at $1,750,843.85. This represents a 2.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,000 shares of company stock valued at $470,210 in the last ninety days. Company insiders own 47.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in 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 purchasing an additional 2,578 shares during the period. NewEdge Advisors LLC grew its position in shares of Crexendo by 28.1% during the first quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock worth $361,000 after buying an additional 16,267 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Crexendo during the first quarter worth approximately $431,000. Huntington National Bank acquired a new stake in Crexendo in the second quarter valued at approximately $30,000. Finally, Prospera Financial Services Inc purchased a new position in Crexendo in the second quarter worth approximately $118,000. 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.