Crexendo (NASDAQ:CXDO) Shares Up 0.4% - Time to Buy?

Key Points

• Crexendo shares were up 0.4% on Monday, trading as high as $7.98 and last at $7.69, with volume below average.
• Analyst sentiment remains positive: Needham raised its price target to $12, Lake Street kept a $11 target, and the stock currently has a Moderate Buy consensus with a $10.40 target.
• The company recently beat quarterly expectations, reporting $0.10 EPS and $20.71 million in revenue, while insider selling has been notable, including recent sales by the CEO and CTO.

Shares of Crexendo Inc. (NASDAQ:CXDO - Get Free Report) were up 0.4% during trading on Monday . The stock traded as high as $7.98 and last traded at $7.69. Approximately 349,448 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 465,671 shares. The stock had previously closed at $7.66.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Needham & Company LLC raised their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings raised Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital reiterated a "buy" rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.

Crexendo Trading Up 0.4%

The stock has a market cap of $249.31 million, a price-to-earnings ratio of 51.27 and a beta of 1.11. The firm's 50 day moving average is $8.27 and its two-hundred day moving average is $7.24.

Crexendo (NASDAQ:CXDO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $20.71 million for the quarter, compared to analysts' expectations of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. As a group, equities analysts expect that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 27,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.94, for a total transaction of $268,380.00. Following the transaction, the chief executive officer owned 209,026 shares of the company's stock, valued at $2,077,718.44. This represents a 11.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.49, for a total value of $187,250.00. Following the transaction, the chief technology officer directly owned 559,747 shares in the company, valued at approximately $4,192,505.03. This represents a 4.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 692,184 shares of company stock valued at $6,540,573 in the last 90 days. Insiders own 47.20% of the company's stock.

Hedge Funds Weigh In On Crexendo

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Crexendo by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 701,898 shares of the company's stock worth $4,562,000 after buying an additional 70,791 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company's stock valued at $2,508,000 after acquiring an additional 85,943 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Crexendo by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 401,356 shares of the company's stock valued at $2,598,000 after acquiring an additional 50,288 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crexendo by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company's stock valued at $2,346,000 after acquiring an additional 52,200 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Crexendo by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company's stock worth $2,139,000 after acquiring an additional 119,037 shares during the period. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Crexendo Company Profile

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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