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

Key Points

• Crexendo has a consensus analyst rating of “Moderate Buy”, with four buy ratings and one hold among five covering firms. The average 12-month price target is $10.40.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.10 versus estimates of $0.08 and revenue of $20.71 million versus $19.63 million expected.
• Insider selling has been notable, including recent share sales by CTO David Tzat-Kin Wang and CRO Jon Brinton, with insiders selling a total of 692,184 shares over the last 90 days.

Crexendo Inc. (NASDAQ:CXDO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.40.

Several research firms have commented on CXDO. Lake Street Capital restated a "buy" rating and issued a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC raised their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th.

Insider Activity

In other news, CTO David Tzat-Kin Wang sold 25,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00. Following the completion of the sale, the chief technology officer directly owned 604,949 shares of the company's stock, valued at $6,055,539.49. The trade was a 3.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jon Brinton sold 114,795 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $9.14, for a total value of $1,049,226.30. Following the sale, the executive owned 114,795 shares of the company's stock, valued at approximately $1,049,226.30. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 692,184 shares of company stock valued at $6,540,573 in the last ninety days. 47.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crexendo

A number of institutional investors have recently added to or reduced their stakes in CXDO. Potomac Capital Management Inc. purchased a new stake in shares of Crexendo during the 4th quarter worth about $985,000. MidFirst Bank acquired a new stake in Crexendo during the 4th quarter worth approximately $1,277,000. Globeflex Capital L P raised its holdings in Crexendo by 593.3% in the fourth quarter. Globeflex Capital L P now owns 129,470 shares of the company's stock valued at $838,000 after buying an additional 110,795 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Crexendo by 26.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company's stock valued at $2,508,000 after buying an additional 85,943 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in Crexendo by 3.5% during the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company's stock valued at $237,000 after buying an additional 1,311 shares in the last quarter. Hedge funds and other institutional investors own 9.53% of the company's stock.

Crexendo Stock Up 1.4%

Shares of Crexendo stock opened at $7.80 on Wednesday. Crexendo has a fifty-two week low of $5.26 and a fifty-two week high of $11.23. The business's fifty day moving average is $8.25 and its two-hundred day moving average is $7.25. The firm has a market cap of $252.88 million, a PE ratio of 52.00 and a beta of 1.11.

Crexendo (NASDAQ:CXDO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The business had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Equities research analysts anticipate that Crexendo will post 0.36 EPS for the current year.

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.

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