D. Boral Capital Issues Positive Forecast for Crexendo (NASDAQ:CXDO) Stock Price

Key Points

• D. Boral Capital has raised its price target for Crexendo (NASDAQ:CXDO) from $10.00 to $11.00, indicating a potential upside of 86.28% from the current price.
• The company's consensus rating is currently a "Buy", with five analysts endorsing the stock and a general target price set at $8.63.
• Recent insider activity includes the sale of 392,610 shares by CTO David Tzat-Kin Wang, representing a 46.82% decrease in his position.

Crexendo (NASDAQ:CXDO - Get Free Report) had its price target boosted by equities researchers at D. Boral Capital from $10.00 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. D. Boral Capital's price objective points to a potential upside of 86.28% from the company's current price.

CXDO has been the topic of several other research reports. Needham & Company LLC began coverage on shares of Crexendo in a research report on Tuesday, July 1st. They issued a "buy" rating and a $8.00 price target on the stock. Wall Street Zen cut shares of Crexendo from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Crexendo currently has a consensus rating of "Buy" and a consensus target price of $8.63.

Crexendo Trading Up 1.6%

Shares of NASDAQ CXDO opened at $5.91 on Wednesday. The firm has a 50 day moving average of $5.72 and a 200 day moving average of $5.59. The firm has a market capitalization of $171.42 million, a price-to-earnings ratio of 73.50 and a beta of 0.98. Crexendo has a 12-month low of $3.75 and a 12-month high of $7.34.

Insider Activity at Crexendo

In related news, CTO David Tzat-Kin Wang sold 392,610 shares of Crexendo stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $4.90, for a total value of $1,923,789.00. Following the sale, the chief technology officer owned 445,995 shares of the company's stock, valued at approximately $2,185,375.50. This trade represents a 46.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 406,210 shares of company stock worth $2,012,473. 56.20% of the stock is owned by company insiders.

Institutional Trading of Crexendo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bard Associates Inc. grew its holdings in Crexendo by 13.3% during the first quarter. Bard Associates Inc. now owns 666,093 shares of the company's stock worth $3,244,000 after acquiring an additional 77,968 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Crexendo by 384.1% in the 1st quarter. Acadian Asset Management LLC now owns 337,787 shares of the company's stock worth $1,643,000 after purchasing an additional 268,004 shares during the period. Renaissance Technologies LLC grew its stake in shares of Crexendo by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 274,100 shares of the company's stock valued at $1,434,000 after buying an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Crexendo by 65.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company's stock valued at $1,138,000 after purchasing an additional 86,162 shares in the last quarter. Finally, Perkins Capital Management Inc. grew its position in shares of Crexendo by 241.2% in the 1st quarter. Perkins Capital Management Inc. now owns 170,600 shares of the company's stock worth $831,000 after acquiring an additional 120,600 shares in the last quarter. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

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