Key Points
- Director Anil Puri sold 3,400 shares of Crexendo at an average price of $9.44, totaling about $32,096. After the sale, he still owned 53,114 shares, a 6.02% reduction in his stake.
- Crexendo reported stronger-than-expected quarterly results, posting EPS of $0.10 versus the $0.08 estimate and revenue of $20.71 million, above consensus expectations.
- Analyst sentiment remains positive, with four Buy ratings and one Hold rating, and a consensus price target of $10.40. Recent target updates from Needham and Lake Street also point to upside.
Crexendo Inc. (NASDAQ:CXDO - Get Free Report) Director Anil Puri sold 3,400 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $9.44, for a total value of $32,096.00. Following the completion of the sale, the director directly owned 53,114 shares of the company's stock, valued at $501,396.16. This trade represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Crexendo Stock Down 1.1%
Shares of CXDO opened at $9.61 on Thursday. Crexendo Inc. has a 52-week low of $5.08 and a 52-week high of $9.90. The company has a market capitalization of $311.56 million, a PE ratio of 64.07 and a beta of 0.93. The stock has a fifty day simple moving average of $7.16 and a two-hundred day simple moving average of $6.84.
Crexendo (NASDAQ:CXDO - Get Free Report) 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. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The business had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. As a group, equities analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.
Analysts Set New Price Targets
CXDO has been the subject of a number of recent research reports. Weiss Ratings raised Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Lake Street Capital reaffirmed a "buy" rating and issued a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Needham & Company LLC raised their target price on Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Crexendo from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.40.
Read Our Latest Research Report on CXDO
Institutional Trading of Crexendo
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC increased its position in shares of Crexendo by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company's stock worth $4,846,000 after purchasing an additional 23,676 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 70,791 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Crexendo by 26.8% during the 1st 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Crexendo by 14.3% during the 4th 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 last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Crexendo by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company's stock worth $2,346,000 after purchasing an additional 52,200 shares during the last quarter. 9.53% of the stock is owned by institutional investors and hedge funds.
About Crexendo
(
Get Free Report)
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.
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