Crexendo (NASDAQ:CXDO) Trading 0.4% Higher – Time to Buy?

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Crexendo in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC upped their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Crexendo currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Crexendo Trading Up 0.4%

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

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. As a group, research analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current year.

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 39,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.95, for a total transaction of $393,025.00. Following the completion of the sale, the chief executive officer directly owned 209,026 shares in the company, valued at $2,079,808.70. The trade was a 15.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ron Vincent sold 90,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.03, for a total transaction of $902,700.00. Following the completion of the sale, the chief financial officer directly owned 117,490 shares of the company’s stock, valued at $1,178,424.70. The trade was a 43.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 692,184 shares of company stock valued at $6,540,573 over the last quarter. 47.20% of the stock is owned by insiders.

Institutional Trading of Crexendo

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

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.