Crexendo Inc. (NASDAQ:CXDO - Get Free Report) has been assigned a consensus rating of "Buy" from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.60.
A number of research firms have weighed in on CXDO. Needham & Company LLC began coverage on shares of Crexendo in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.00 price objective on the stock. D. Boral Capital raised their price objective on shares of Crexendo from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday. Lake Street Capital raised their price objective on shares of Crexendo from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Wednesday. Finally, Wall Street Zen lowered shares of Crexendo from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th.
Read Our Latest Report on CXDO
Insider Activity at Crexendo
In related news, CTO David Tzat-Kin Wang sold 392,610 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $4.90, for a total transaction of $1,923,789.00. Following the completion of the sale, the chief technology officer owned 445,995 shares in the company, valued at approximately $2,185,375.50. This trade represents a 46.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 406,210 shares of company stock valued at $2,012,473 in the last three months. Corporate insiders own 56.20% of the company's stock.
Institutional Trading of Crexendo
A number of large investors have recently added to or reduced their stakes in the stock. Huntington National Bank purchased a new position in Crexendo during the second quarter valued at approximately $30,000. Bank of America Corp DE grew its stake in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after buying an additional 2,578 shares in the last quarter. Detalus Advisors LLC purchased a new position in Crexendo in the 1st quarter worth approximately $49,000. Algert Global LLC purchased a new position in Crexendo in the 1st quarter worth approximately $61,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Crexendo in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 9.53% of the company's stock.
Crexendo Trading Up 2.6%
NASDAQ CXDO traded up $0.15 on Wednesday, hitting $5.96. 424,618 shares of the company were exchanged, compared to its average volume of 192,472. The company has a market cap of $173.02 million, a PE ratio of 74.51 and a beta of 0.98. Crexendo has a 12 month low of $3.75 and a 12 month high of $7.34. The stock has a fifty day moving average of $5.72 and a 200-day moving average of $5.59.
About Crexendo
(
Get Free Report)
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.
Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Crexendo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crexendo wasn't on the list.
While Crexendo currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.