Crexendo (NASDAQ:CXDO) Stock Price Expected to Rise, D. Boral Capital Analyst Says

Crexendo (NASDAQ:CXDO) had its price target boosted by investment analysts at D. Boral Capital from $7.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. D. Boral Capital’s price objective points to a potential upside of 39.66% from the company’s current price.

Separately, B. Riley reaffirmed a “buy” rating and set a $7.50 price objective (up previously from $6.75) on shares of Crexendo in a report on Wednesday.

Crexendo Trading Up 24.1 %

Shares of NASDAQ CXDO opened at $7.16 on Thursday. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.34. The company has a 50-day moving average of $5.83 and a two-hundred day moving average of $5.36. The company has a market cap of $191.28 million, a PE ratio of 238.75 and a beta of 1.15.

Insider Buying and Selling

In other Crexendo news, CEO Jeffrey G. Korn sold 7,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the sale, the chief executive officer now owns 249,730 shares in the company, valued at approximately $1,311,082.50. The trade was a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.90, for a total value of $522,668.30. Following the completion of the transaction, the chief technology officer now owns 443,079 shares in the company, valued at $2,171,087.10. This represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,960 shares of company stock valued at $653,627 over the last ninety days. Insiders own 56.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Advisor Resource Council acquired a new position in shares of Crexendo in the 3rd quarter valued at $93,000. GSA Capital Partners LLP grew its stake in Crexendo by 41.2% in the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock valued at $82,000 after acquiring an additional 5,139 shares during the period. Barclays PLC bought a new stake in shares of Crexendo in the third quarter worth about $109,000. Geode Capital Management LLC raised its position in shares of Crexendo by 18.4% during the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after purchasing an additional 21,739 shares during the period. Finally, ARS Investment Partners LLC bought a new position in shares of Crexendo during the 4th quarter valued at about $243,000. 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.