Crexendo (NASDAQ:CXDO) Upgraded to “Buy” by B. Riley

Crexendo (NASDAQ:CXDO) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat reports. The firm currently has a $5.75 target price on the stock, down from their previous target price of $6.75. B. Riley’s price objective would indicate a potential upside of 23.66% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. TheStreet raised Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th. Lake Street Capital boosted their target price on shares of Crexendo from $5.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th.

Crexendo Trading Down 2.1 %

NASDAQ CXDO opened at $4.65 on Wednesday. Crexendo has a 52 week low of $1.24 and a 52 week high of $7.59. The company has a 50 day moving average price of $4.87 and a 200 day moving average price of $4.40. The company has a quick ratio of 1.65, a current ratio of 1.69 and a debt-to-equity ratio of 0.01. The firm has a market cap of $119.51 million, a PE ratio of -232.50 and a beta of 1.16.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $14.16 million for the quarter, compared to the consensus estimate of $13.76 million. Crexendo had a positive return on equity of 6.60% and a negative net margin of 0.68%. During the same period in the prior year, the firm posted $0.02 earnings per share. As a group, sell-side analysts forecast that Crexendo will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO David Tzat-Kin Wang sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $5.51, for a total value of $110,200.00. Following the sale, the chief technology officer now directly owns 437,402 shares of the company’s stock, valued at approximately $2,410,085.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 56.60% of the company’s stock.

Institutional Trading of Crexendo

Hedge funds have recently added to or reduced their stakes in the company. AJOVista LLC purchased a new position in shares of Crexendo during the 4th quarter valued at approximately $47,000. Simplicity Wealth LLC acquired a new stake in shares of Crexendo in the first quarter worth approximately $53,000. SG Americas Securities LLC purchased a new stake in shares of Crexendo during the first quarter worth approximately $55,000. Finally, Hillsdale Investment Management Inc. acquired a new position in Crexendo in the 4th quarter valued at $108,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

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.