Analysts Set Crexendo Inc. (NASDAQ:CXDO) Target Price at $8.60

Crexendo Inc. (NASDAQ:CXDO) has been given a consensus recommendation of “Buy” by the five analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $8.60.

CXDO has been the subject of several analyst reports. D. Boral Capital lifted their price objective on shares of Crexendo from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Lake Street Capital raised their target price on Crexendo from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. Finally, Needham & Company LLC initiated coverage on Crexendo in a report on Tuesday, July 1st. They set a “buy” rating and a $8.00 price objective on the stock.

Insider Buying and Selling at Crexendo

In other news, CFO Ron Vincent sold 8,200 shares of Crexendo stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $6.52, for a total value of $53,464.00. Following the transaction, the chief financial officer directly owned 172,747 shares in the company, valued at approximately $1,126,310.44. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David Tzat-Kin Wang sold 392,610 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $4.90, for a total value of $1,923,789.00. Following the transaction, the chief technology officer directly owned 445,995 shares of the company’s stock, valued at $2,185,375.50. This represents a 46.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,610 shares of company stock worth $2,086,769 in the last quarter. Insiders own 56.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CXDO. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Crexendo in the second quarter valued at approximately $29,000. Huntington National Bank acquired a new position in Crexendo during the 2nd quarter valued at $30,000. Bank of America Corp DE boosted its holdings in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares during the period. JPMorgan Chase & Co. bought a new stake in Crexendo in the 2nd quarter valued at $41,000. Finally, Detalus Advisors LLC acquired a new stake in Crexendo in the 1st quarter worth $49,000. 9.53% of the stock is owned by institutional investors.

Crexendo Stock Down 1.5%

CXDO stock opened at $5.74 on Wednesday. The firm has a 50 day moving average of $5.78 and a two-hundred day moving average of $5.61. Crexendo has a 12 month low of $3.75 and a 12 month high of $7.34. The company has a market capitalization of $173.18 million, a price-to-earnings ratio of 57.41 and a beta of 0.98.

Crexendo Company Profile

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.