Analysts Set Crexendo Inc. (NASDAQ:CXDO) PT at $9.08

Shares of Crexendo Inc. (NASDAQ:CXDO) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.0833.

CXDO has been the topic of several analyst reports. Needham & Company LLC increased their price target on shares of Crexendo from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Northland Securities set a $10.00 target price on Crexendo in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Crexendo in a research note on Friday, January 9th. Finally, B. Riley Financial reissued a “buy” rating and set a $8.00 price objective (up from $7.50) on shares of Crexendo in a report on Wednesday, November 5th.

Institutional Trading of Crexendo

Institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in shares of Crexendo by 4.8% during the 4th quarter. D.A. Davidson & CO. now owns 37,152 shares of the company’s stock worth $240,000 after buying an additional 1,717 shares during the period. Goldman Sachs Group Inc. lifted its position in Crexendo by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after acquiring an additional 2,260 shares during the last quarter. Bank of America Corp DE boosted its holdings in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares during the period. BNP Paribas Financial Markets grew its position in shares of Crexendo by 172.6% in the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after purchasing an additional 2,782 shares during the last quarter. Finally, Independent Advisor Alliance grew its position in shares of Crexendo by 13.2% in the third quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock valued at $161,000 after purchasing an additional 2,890 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Crexendo Price Performance

CXDO opened at $5.68 on Friday. The company has a market capitalization of $174.55 million, a PE ratio of 37.87 and a beta of 0.93. Crexendo has a fifty-two week low of $3.75 and a fifty-two week high of $7.80. The business has a 50-day moving average of $6.66 and a 200-day moving average of $6.54.

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.