Crexendo Inc. (NASDAQ:CXDO) Given Average Recommendation of "Buy" by Analysts

Key Points

• Crexendo Inc. (NASDAQ:CXDO) has received an average analyst recommendation of "Buy," with a target price of $8.60 from five brokerages.
• CFO Ron Vincent sold 8,200 shares at $6.52 each, representing a 4.53% decrease in his holdings, while insiders have sold a total of 25,000 shares recently.
• Institutional investors continue to invest in Crexendo, with several firms purchasing stakes during the second quarter, contributing to 9.53% of the stock being owned by institutional investors.

Shares of Crexendo Inc. (NASDAQ:CXDO - Get Free Report) have been assigned a consensus rating of "Buy" from the five brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.60.

Several brokerages have recently commented on CXDO. Needham & Company LLC started coverage on Crexendo in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.00 target price for the company. Wall Street Zen lowered shares of Crexendo from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. D. Boral Capital boosted their price target on shares of Crexendo from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Lake Street Capital upped their target price on shares of Crexendo from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, August 6th.

Insider Activity at Crexendo

In other news, CFO Ron Vincent sold 8,200 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $6.52, for a total transaction of $53,464.00. Following the completion of the transaction, the chief financial officer directly owned 172,747 shares of the company's stock, valued at approximately $1,126,310.44. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 25,000 shares of company stock worth $162,980 over the last ninety days. Corporate insiders own 56.20% of the company's stock.

Hedge Funds Weigh In On Crexendo

Several hedge funds and other institutional investors have recently modified their holdings of CXDO. Barclays PLC grew its holdings in Crexendo by 8.9% in the fourth quarter. Barclays PLC now owns 25,688 shares of the company's stock worth $134,000 after purchasing an additional 2,105 shares during the period. Dimensional Fund Advisors LP grew its holdings in Crexendo by 65.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company's stock worth $1,138,000 after purchasing an additional 86,162 shares during the period. Northern Trust Corp grew its holdings in Crexendo by 44.8% in the fourth quarter. Northern Trust Corp now owns 19,680 shares of the company's stock worth $103,000 after purchasing an additional 6,085 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Crexendo during the fourth quarter valued at approximately $69,000. Finally, Jane Street Group LLC grew its holdings in shares of Crexendo by 93.1% during the fourth quarter. Jane Street Group LLC now owns 23,075 shares of the company's stock valued at $121,000 after buying an additional 11,128 shares during the last quarter. 9.53% of the stock is owned by institutional investors.

Crexendo Stock Up 3.7%

Crexendo stock traded up $0.23 during trading hours on Friday, reaching $6.49. 72,716 shares of the company's stock were exchanged, compared to its average volume of 218,614. The firm's 50 day simple moving average is $6.02 and its 200 day simple moving average is $5.64. Crexendo has a twelve month low of $3.75 and a twelve month high of $7.34. The firm has a market capitalization of $195.80 million, a PE ratio of 64.91 and a beta of 0.98.

About Crexendo

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.