Crexendo (NASDAQ:CXDO) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Crexendo (NASDAQ:CXDO) had its target price lifted by Needham & Company LLC from $8.00 to $9.00 in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 39.10% from the company’s current price.

A number of other research firms have also issued reports on CXDO. Wall Street Zen lowered shares of Crexendo from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. D. Boral Capital upped their target price on shares of Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Lake Street Capital upped their target price on shares of Crexendo from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.80.

Crexendo Stock Up 0.6%

Crexendo stock opened at $6.47 on Thursday. Crexendo has a 52-week low of $3.75 and a 52-week high of $7.34. The firm has a market capitalization of $198.64 million, a price-to-earnings ratio of 64.71 and a beta of 0.83. The company has a fifty day simple moving average of $6.41 and a 200-day simple moving average of $5.88.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, June 7th. The company reported $0.02 earnings per share (EPS) for the quarter. Crexendo had a net margin of 4.75% and a return on equity of 11.33%. The business had revenue of $4.51 million during the quarter. On average, research analysts anticipate that Crexendo will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ron Vincent sold 8,200 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $6.52, for a total transaction of $53,464.00. Following the transaction, the chief financial officer owned 172,747 shares of the company’s stock, valued at approximately $1,126,310.44. The trade was a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Douglas Walter Gaylor sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $6.76, for a total transaction of $67,600.00. Following the transaction, the chief operating officer directly owned 238,531 shares in the company, valued at approximately $1,612,469.56. The trade was a 4.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,400 shares of company stock worth $141,896. Corporate insiders own 47.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CXDO. Police & Firemen s Retirement System of New Jersey acquired a new position in Crexendo in the second quarter valued at about $29,000. Huntington National Bank acquired a new position in Crexendo in the second quarter valued at about $30,000. Bank of America Corp DE lifted its position in Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Crexendo in the second quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Crexendo in the second quarter valued at about $48,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.