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

Crexendo Inc. (NASDAQ:CXDO) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.0833.

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

Crexendo Price Performance

Shares of Crexendo stock opened at $5.89 on Friday. Crexendo has a 1 year low of $3.75 and a 1 year high of $7.80. The business has a 50 day moving average price of $6.70 and a 200 day moving average price of $6.55. The company has a market capitalization of $181.00 million, a P/E ratio of 39.27 and a beta of 0.93.

Hedge Funds Weigh In On Crexendo

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in 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 buying an additional 173,530 shares during the last quarter. Potomac Capital Management Inc. purchased a new position in shares of Crexendo during the 4th quarter worth about $985,000. Acadian Asset Management LLC boosted its position in shares of Crexendo by 39.2% in the second quarter. Acadian Asset Management LLC now owns 470,081 shares of the company’s stock worth $2,850,000 after acquiring an additional 132,294 shares during the last quarter. Pembroke Management LTD grew its holdings in Crexendo by 209.3% in the third quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock valued at $1,270,000 after purchasing an additional 132,201 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Crexendo during the third quarter worth approximately $805,000. 9.53% of the stock is currently 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.