D. Boral Capital Forecasts Strong Price Appreciation for Crexendo (NASDAQ:CXDO) Stock

Crexendo (NASDAQ:CXDO) had its target price raised by equities researchers at D. Boral Capital from $7.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. D. Boral Capital’s price target would suggest a potential upside of 39.66% from the stock’s previous close.

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

Crexendo Stock Performance

NASDAQ:CXDO opened at $7.16 on Thursday. The company has a market cap of $191.28 million, a PE ratio of 238.75 and a beta of 1.15. Crexendo has a 52-week low of $2.92 and a 52-week high of $7.34. The stock has a 50-day simple moving average of $5.83 and a 200 day simple moving average of $5.36.

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 7,000 shares of the business’s 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 transaction, the chief executive officer now owns 249,730 shares of the company’s stock, valued at $1,311,082.50. The trade was a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Tzat-Kin Wang sold 12,293 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $5.15, for a total value of $63,308.95. Following the completion of the sale, the chief technology officer now directly owns 443,079 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 131,960 shares of company stock valued at $653,627 in the last quarter. Company insiders own 56.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

Large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Crexendo during the fourth quarter worth approximately $44,000. Walleye Capital LLC bought a new stake in shares of Crexendo during the fourth quarter worth approximately $69,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Crexendo during the fourth quarter worth approximately $69,000. Finally, GSA Capital Partners LLP lifted its holdings in Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after purchasing an additional 5,139 shares during the last quarter. 9.53% of the stock is owned by 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.