Crexendo (NASDAQ:CXDO) Stock Price Expected to Rise, D. Boral Capital Analyst Says

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 - Free Report) had its target price upped by D. Boral Capital from $10.00 to $11.00 in a report released on Wednesday morning,Benzinga reports. D. Boral Capital currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Crexendo from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Needham & Company LLC assumed coverage on Crexendo in a report on Tuesday, July 1st. They set a "buy" rating and a $8.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $8.60.

Crexendo Stock Down 9.4%

NASDAQ:CXDO traded down $0.62 during trading hours on Wednesday, hitting $6.01. 594,069 shares of the stock traded hands, compared to its average volume of 175,120. The company has a market cap of $181.32 million, a price-to-earnings ratio of 60.11 and a beta of 0.98. Crexendo has a 1 year low of $3.75 and a 1 year high of $7.34. The stock has a 50 day moving average price of $5.77 and a 200 day moving average price of $5.61.

Insiders Place Their Bets

In related news, CTO David Tzat-Kin Wang sold 392,610 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 406,210 shares of company stock valued at $2,012,473. Corporate insiders own 56.20% of the company's stock.

Institutional Investors Weigh In On Crexendo

Large investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Crexendo in the 2nd quarter worth $29,000. Geode Capital Management LLC raised its holdings in Crexendo by 120.1% in the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company's stock worth $1,930,000 after purchasing an additional 173,530 shares in the last quarter. Pembroke Management LTD acquired a new stake in Crexendo in the second quarter valued at approximately $383,000. Acadian Asset Management LLC increased its position in shares of Crexendo by 39.2% during the second quarter. Acadian Asset Management LLC now owns 470,081 shares of the company's stock worth $2,850,000 after purchasing an additional 132,294 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new stake in shares of Crexendo during the second quarter valued at $118,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

Crexendo Company Profile

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.