Crexendo (NASDAQ:CXDO) Price Target Raised to $12.00
by Amy Steele · The Cerbat GemCrexendo (NASDAQ:CXDO – Free Report) had its price target lifted by Needham & Company LLC from $9.00 to $12.00 in a research note released on Wednesday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.
Several other research firms also recently issued reports on CXDO. Lake Street Capital upped their price objective on shares of Crexendo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a research report on Wednesday, April 8th. Finally, Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.
View Our Latest Research Report on Crexendo
Crexendo Trading Down 4.3%
Shares of NASDAQ CXDO opened at $9.36 on Wednesday. Crexendo has a one year low of $5.08 and a one year high of $9.84. The firm has a market capitalization of $303.45 million, a PE ratio of 62.40 and a beta of 0.93. The business has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $6.63.
Crexendo (NASDAQ:CXDO – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm 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%. Research analysts anticipate that Crexendo will post 0.27 EPS for the current year.
Insider Activity at Crexendo
In other news, CEO Jeffrey G. Korn sold 10,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $9.00, for a total value of $90,000.00. Following the transaction, the chief executive officer owned 208,615 shares of the company’s stock, valued at $1,877,535. This represents a 4.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ron Vincent sold 33,550 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.36, for a total value of $314,028.00. Following the transaction, the chief financial officer owned 118,537 shares in the company, valued at approximately $1,109,506.32. This trade represents a 22.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 257,816 shares of company stock valued at $2,274,699 over the last quarter. 47.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Crexendo
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pembroke Management LTD grew its stake in Crexendo by 209.3% during the third quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock valued at $1,270,000 after acquiring an additional 132,201 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Crexendo in the 3rd quarter worth $230,000. Potomac Capital Management Inc. bought a new position in shares of Crexendo during the 4th quarter valued at about $985,000. Globeflex Capital L P raised its position in shares of Crexendo by 593.3% during the 4th quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock valued at $838,000 after buying an additional 110,795 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in Crexendo by 104.8% during the fourth quarter. Prospera Financial Services Inc now owns 58,920 shares of the company’s stock valued at $381,000 after acquiring an additional 30,145 shares during the last quarter. 9.53% of the stock is owned by institutional investors.
Crexendo News Summary
Here are the key news stories impacting Crexendo this week:
- Positive Sentiment: Needham & Company raised its price target on Crexendo to $12.00 and reiterated a Buy rating, reinforcing the bullish view that the shares still have room to run. Article Title
- Positive Sentiment: Crexendo’s latest quarterly results beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of $20.71 million versus $19.63 million expected, supporting the company’s growth and profitability narrative. Article Title
- Positive Sentiment: Management said it will present at upcoming investor conferences, which could increase visibility with institutional investors and give the company another platform to highlight its ESI acquisition and consecutive quarters of GAAP profitability. Article Title
- Neutral Sentiment: Several analyst and commentary pieces focused on Crexendo’s growth momentum and earnings call details, adding context but not changing the near-term catalyst picture by themselves. Article Title
- Negative Sentiment: Top executives, including the CEO, COO, CFO, and CRO, disclosed sizable stock sales over May 4-6. While insider selling does not necessarily change fundamentals, it can create short-term pressure and weigh on investor sentiment. Article Title
About Crexendo
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.