Crexendo (NASDAQ:CXDO) Earns Buy Rating from Analysts at D. Boral Capital

Equities research analysts at D. Boral Capital started coverage on shares of Crexendo (NASDAQ:CXDO) in a research note issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. D. Boral Capital’s price objective points to a potential upside of 30.84% from the stock’s current price.

Crexendo Stock Performance

NASDAQ:CXDO opened at $5.35 on Tuesday. The stock has a 50-day simple moving average of $5.26 and a two-hundred day simple moving average of $4.91. Crexendo has a 52-week low of $2.92 and a 52-week high of $7.59. The firm has a market capitalization of $142.95 million, a PE ratio of 178.39 and a beta of 1.10.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Korn sold 7,000 shares of Crexendo stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the sale, the chief executive officer now owns 249,730 shares of the company’s stock, valued at approximately $1,311,082.50. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Tzat-Kin Wang sold 12,293 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $5.15, for a total value of $63,308.95. Following the completion of the transaction, the chief technology officer now owns 443,079 shares of the company’s stock, valued at $2,281,856.85. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,960 shares of company stock worth $653,627. Company insiders own 56.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its position in shares of Crexendo by 41.2% during the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after acquiring an additional 5,139 shares during the last quarter. Advisor Resource Council bought a new position in shares of Crexendo during the 3rd quarter valued at about $93,000. Barclays PLC purchased a new position in shares of Crexendo during the third quarter valued at about $109,000. ARS Investment Partners LLC bought a new stake in shares of Crexendo in the fourth quarter worth about $243,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Crexendo by 476.4% in the second quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock worth $319,000 after buying an additional 83,702 shares in the last quarter. 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.