Crexendo (NASDAQ:CXDO) Earns Buy Rating from Analysts at Craig Hallum

Investment analysts at Craig Hallum assumed coverage on shares of Crexendo (NASDAQ:CXDO) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Craig Hallum’s price objective indicates a potential upside of 94.17% from the company’s current price.

A number of other brokerages have also issued reports on CXDO. D. Boral Capital raised their price target on Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. B. Riley reiterated a “buy” rating and set a $7.50 price objective (up from $6.75) on shares of Crexendo in a report on Wednesday, March 5th.

Crexendo Stock Performance

Shares of CXDO opened at $4.12 on Monday. Crexendo has a fifty-two week low of $2.92 and a fifty-two week high of $7.34. The company has a market capitalization of $114.95 million, a PE ratio of 137.38 and a beta of 1.33. The stock has a fifty day moving average of $5.89 and a two-hundred day moving average of $5.48.

Insider Activity at Crexendo

In related news, COO Douglas Walter Gaylor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $6.27, for a total transaction of $62,700.00. Following the completion of the sale, the chief operating officer now owns 230,007 shares of the company’s stock, valued at approximately $1,442,143.89. This represents a 4.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David Tzat-Kin Wang sold 229,476 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the sale, the chief technology officer now owns 445,995 shares of the company’s stock, valued at approximately $2,452,972.50. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 249,476 shares of company stock worth $1,384,818. 56.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Crexendo

Several large investors have recently made changes to their positions in the business. Barclays PLC purchased a new stake in Crexendo during the 3rd quarter worth $109,000. Geode Capital Management LLC boosted its position 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 buying an additional 21,739 shares during the period. ARS Investment Partners LLC acquired a new stake in shares of Crexendo in the fourth quarter valued at about $243,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Crexendo during the 4th quarter valued at about $44,000. Finally, Perkins Capital Management Inc. purchased a new position in Crexendo in the 4th quarter worth approximately $262,000. 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.