Crexendo (NASDAQ:CXDO) Price Target Raised to $7.00

Crexendo (NASDAQ:CXDOFree Report) had its target price increased by Lake Street Capital from $5.50 to $7.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, B. Riley restated a neutral rating and set a $6.75 target price on shares of Crexendo in a research report on Wednesday.

Check Out Our Latest Research Report on CXDO

Crexendo Stock Down 6.8 %

Shares of CXDO opened at $5.99 on Wednesday. The stock’s fifty day moving average price is $5.74 and its two-hundred day moving average price is $3.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 1.69. Crexendo has a 1 year low of $1.24 and a 1 year high of $7.59.

Crexendo (NASDAQ:CXDOGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $14.16 million during the quarter, compared to analysts’ expectations 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 previous year, the business earned $0.02 earnings per share. As a group, equities research analysts anticipate that Crexendo will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On Crexendo

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Crexendo by 33.2% in the 2nd quarter. BlackRock Inc. now owns 25,055 shares of the company’s stock valued at $44,000 after acquiring an additional 6,243 shares during the last quarter. AJOVista LLC purchased a new stake in shares of Crexendo in the 4th quarter worth approximately $47,000. Renaissance Technologies LLC purchased a new stake in shares of Crexendo in the 4th quarter worth approximately $48,000. Dimensional Fund Advisors LP purchased a new stake in shares of Crexendo in the 4th quarter worth approximately $59,000. Finally, Millennium Management LLC purchased a new stake in Crexendo during the 4th quarter valued at $81,000. 8.77% of the stock is currently owned by hedge funds and other institutional investors.

About Crexendo

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Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States, Canada, and internationally. It operates through two segments, Cloud Telecommunications 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.

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