Key Points
- Crexendo CEO Jeffrey Korn sold 27,000 shares on May 28 at an average price of $9.94, totaling $268,380. After the sale, he still directly owned 209,026 shares valued at about $2.08 million.
- Crexendo beat quarterly expectations in its latest earnings report, posting $0.10 EPS versus the $0.08 consensus and revenue of $20.71 million versus $19.63 million expected.
- Analysts remain cautiously bullish on the stock, with a consensus “Moderate Buy” rating and an average price target of $10.40 after recent target increases from firms including Needham and Lake Street Capital.
Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CEO Jeffrey Korn sold 8,500 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $9.94, for a total value of $84,490.00. Following the sale, the chief executive officer owned 209,026 shares of the company's stock, valued at approximately $2,077,718.44. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Crexendo Stock Down 0.7%
Shares of CXDO stock opened at $9.88 on Friday. Crexendo Inc. has a twelve month low of $5.08 and a twelve month high of $10.20. The company has a market cap of $320.26 million, a P/E ratio of 65.87 and a beta of 0.93. The business has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $6.98.
Crexendo (NASDAQ:CXDO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 research analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
CXDO has been the subject of several research reports. Needham & Company LLC increased their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital reissued a "buy" rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.
Check Out Our Latest Analysis on Crexendo
Hedge Funds Weigh In On Crexendo
Large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in Crexendo by 26.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company's stock valued at $2,508,000 after purchasing an additional 85,943 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Crexendo by 3.5% during the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company's stock valued at $237,000 after acquiring an additional 1,311 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Crexendo during the first quarter valued at $208,000. Diversify Wealth Management LLC bought a new position in shares of Crexendo during the first quarter valued at $139,000. Finally, MidFirst Bank bought a new position in shares of Crexendo during the fourth quarter valued at $1,277,000. 9.53% of the stock is currently owned by institutional investors.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
