Crexendo (NASDAQ:CXDO) Shares Break Above 50-Day Moving Average - What's Next?

Key Points

• Crexendo shares broke above their 50-day moving average, reaching $6.16 and last trading at $6.15, compared with a 50-day average of $5.92.
• Analysts maintain a cautiously positive outlook, with three Buy ratings and one Hold rating producing a consensus “Moderate Buy” and an average price target of $10.50.
• The company exceeded quarterly earnings expectations, reporting $0.12 EPS versus $0.10 forecast and $24.65 million in revenue; however, CTO David Wang sold 25,000 shares at an average price of $6.50.

Crexendo Inc. (NASDAQ:CXDO - Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $5.92 and traded as high as $6.16. Crexendo shares last traded at $6.15, with a volume of 221,112 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CXDO. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Crexendo in a research note on Monday, August 3rd. B. Riley Financial reduced their price objective on shares of Crexendo from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $10.50.

Crexendo Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.98 and a current ratio of 2.06. The stock's 50-day moving average is $5.92 and its 200 day moving average is $6.89. The firm has a market cap of $205.23 million, a P/E ratio of 43.93 and a beta of 1.15.

Crexendo (NASDAQ:CXDO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Crexendo had a return on equity of 14.34% and a net margin of 5.31%. The business had revenue of $24.65 million for the quarter, compared to the consensus estimate of $24.65 million. On average, research analysts predict that Crexendo Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Crexendo

In other news, CTO David Wang sold 25,000 shares of Crexendo stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $6.50, for a total transaction of $162,500.00. Following the transaction, the chief technology officer owned 534,747 shares in the company, valued at $3,475,855.50. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 34.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crexendo

Several institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new stake in Crexendo in the 2nd quarter valued at $82,000. Deutsche Bank AG acquired a new position in Crexendo in the 2nd quarter worth $138,000. Diversify Wealth Management LLC bought a new position in Crexendo during the 1st quarter worth about $139,000. Diversify Advisory Services LLC acquired a new stake in shares of Crexendo in the 2nd quarter valued at about $147,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Crexendo in the 1st quarter valued at about $155,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Crexendo Company Profile

Crexendo, Inc is a provider of cloud-based communications and technology services. The company offers unified communications as a service, business voice and messaging solutions, video conferencing, contact center capabilities, and related communications tools designed for small and medium-sized businesses, enterprises, and service providers.

Crexendo also provides a communications software platform through its NetSapiens business. The platform supports hosted voice, unified communications, contact center, and application programming interface services, enabling telecommunications providers and channel partners to deliver branded communications solutions to their customers.

Founded in 1995 and headquartered in Arizona, Crexendo serves customers primarily through direct sales, resellers, agents, and other channel partners.

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