Crexendo (NASDAQ:CXDO) Given New $6.00 Price Target at B. Riley

Crexendo (NASDAQ:CXDO) had its price objective lifted by B. Riley from $5.75 to $6.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Crexendo Trading Up 9.7 %

Shares of NASDAQ:CXDO traded up $0.38 during trading hours on Wednesday, hitting $4.28. 112,692 shares of the company’s stock traded hands, compared to its average volume of 182,657. Crexendo has a 1 year low of $1.54 and a 1 year high of $7.59. The business has a fifty day moving average price of $3.49 and a 200-day moving average price of $4.50. The firm has a market capitalization of $114.28 million, a P/E ratio of 86.00 and a beta of 1.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.01 and a quick ratio of 1.97.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. Crexendo had a return on equity of 10.88% and a net margin of 3.01%. The business had revenue of $14.29 million during the quarter, compared to analyst estimates of $14.10 million. Equities analysts expect that Crexendo will post 0.13 earnings per share for the current year.

Insider Activity at Crexendo

In related news, insider Anand Buch sold 11,950 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $3.04, for a total value of $36,328.00. Following the completion of the sale, the insider now owns 548,139 shares in the company, valued at $1,666,342.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders bought 9,000 shares of company stock worth $30,890. Company insiders own 56.20% of the company’s stock.

Institutional Trading of Crexendo

A number of large investors have recently modified their holdings of CXDO. AJOVista LLC purchased a new stake in shares of Crexendo in the fourth quarter valued at approximately $47,000. Hillsdale Investment Management Inc. purchased a new stake in Crexendo during the fourth quarter worth $108,000. Simplicity Wealth LLC purchased a new stake in Crexendo during the first quarter worth $53,000. SG Americas Securities LLC purchased a new stake in Crexendo during the first quarter worth $55,000. Finally, Vanguard Group Inc. lifted its holdings in Crexendo by 7.2% during the first quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock worth $2,193,000 after buying an additional 30,646 shares during the period. Hedge funds and other institutional investors own 9.53% of the company’s stock.

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.