D. Boral Capital Reaffirms Buy Rating for Crexendo (NASDAQ:CXDO)

D. Boral Capital reissued their buy rating on shares of Crexendo (NASDAQ:CXDO) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Other analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $7.50 price objective (up previously from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. Craig Hallum started coverage on shares of Crexendo in a research note on Monday, April 7th. They set a “buy” rating and a $8.00 price target on the stock.

Crexendo Stock Performance

Shares of CXDO opened at $5.25 on Wednesday. The company has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $5.44. Crexendo has a 52 week low of $2.92 and a 52 week high of $7.34. The firm has a market capitalization of $146.48 million, a P/E ratio of 175.06 and a beta of 1.09.

Insider Transactions at Crexendo

In related news, CTO David Tzat-Kin Wang sold 229,476 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the completion of the sale, the chief technology officer now owns 445,995 shares in the company, valued at $2,452,972.50. This trade represents a 33.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief executive officer now owns 243,384 shares in the company, valued at approximately $1,460,304. This trade represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,476 shares of company stock valued at $1,384,818. Corporate insiders own 56.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

Institutional investors have recently bought and sold shares of the business. Barclays PLC acquired a new stake in shares of Crexendo in the third quarter valued at $109,000. Perkins Capital Management Inc. bought a new stake in Crexendo during the 4th quarter worth about $262,000. Renaissance Technologies LLC increased its position in Crexendo by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 274,100 shares of the company’s stock valued at $1,434,000 after acquiring an additional 38,700 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after acquiring an additional 21,739 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Crexendo during the fourth quarter valued at approximately $44,000. Institutional investors 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.