Crexendo (NASDAQ:CXDO) Shares Up 0.4% – Should You Buy?

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CXDO. Needham & Company LLC upped their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Lake Street Capital reissued a “buy” rating and set a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Four 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.40.

Crexendo Trading Down 4.4%

The firm has a 50-day moving average price of $8.25 and a 200-day moving average price of $7.25. The company has a market capitalization of $241.82 million, a price-to-earnings ratio of 49.73 and a beta of 1.11.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. Equities research analysts predict that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at Crexendo

In other news, CEO Jeffrey G. Korn sold 39,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 209,026 shares in the company, valued at approximately $2,079,808.70. This trade represents a 15.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jon Brinton sold 114,795 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.14, for a total transaction of $1,049,226.30. Following the completion of the sale, the executive owned 114,795 shares in the company, valued at $1,049,226.30. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 692,184 shares of company stock worth $6,540,573. Company insiders own 47.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CXDO. Vanguard Group Inc. boosted its stake in shares of Crexendo by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock worth $4,562,000 after acquiring an additional 70,791 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Crexendo by 26.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after acquiring an additional 85,943 shares during the last quarter. Geode Capital Management LLC raised its position 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 during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Crexendo by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock valued at $2,346,000 after purchasing an additional 52,200 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Crexendo by 52.3% in the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock valued at $2,139,000 after purchasing an additional 119,037 shares during the period. Institutional investors own 9.53% of the company’s stock.

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.