Crexendo (NASDAQ:CXDO) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

by · The Markets Daily

Crexendo (NASDAQ:CXDO – Get Free Report) announced its earnings results on Tuesday. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01, FiscalAI reports. The business had revenue of $18.06 million during the quarter, compared to the consensus estimate of $18.14 million. Crexendo had a net margin of 6.58% and a return on equity of 13.09%.

Crexendo Trading Up 1.6%

Crexendo stock traded up $0.10 during midday trading on Tuesday, reaching $6.51. The stock had a trading volume of 281,643 shares, compared to its average volume of 160,523. The company has a fifty day moving average price of $6.59 and a two-hundred day moving average price of $6.54. Crexendo has a 12 month low of $3.75 and a 12 month high of $7.80. The company has a market capitalization of $200.06 million, a P/E ratio of 43.40 and a beta of 0.93.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Lake Street Capital increased their price target on Crexendo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley Financial restated a “buy” rating and set a $8.00 target price (up from $7.50) on shares of Crexendo in a research report on Wednesday, November 5th. Wall Street Zen cut Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Northland Securities set a $10.00 target price on Crexendo in a report on Wednesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating on shares of Crexendo in a report on Monday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Crexendo presently has a consensus rating of “Moderate Buy” and an average target price of $9.17.

Read Our Latest Analysis on CXDO

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position in shares of Crexendo by 172.6% during the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after acquiring an additional 2,782 shares in the last quarter. Strive Financial Group LLC acquired a new position in Crexendo during the 4th quarter valued at about $31,000. Bank of America Corp DE boosted its stake in Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Crexendo during the 2nd quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Crexendo in the second quarter worth approximately $48,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.

About Crexendo

(Get Free Report)

Crexendo, Inc (NASDAQ: CXDO) is a provider of cloud-based communications and collaboration solutions tailored to businesses of varying sizes. The company’s flagship offering, CXsuite, integrates enterprise-grade voice, video conferencing, instant messaging, presence, and contact center functionality into a single platform delivered over the internet. By leveraging hosted infrastructure and a subscription-based model, Crexendo aims to reduce on-premises hardware costs and simplify management for IT teams and resellers.

Crexendo’s product portfolio includes a multi-tenant cloud PBX, SIP trunking, session border controllers and an application programming interface (API) suite that allows partners and customers to embed real-time communications into custom workflows.

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