Crexendo (NASDAQ:CXDO) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

by · The Cerbat Gem

Crexendo (NASDAQ:CXDO – Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01), Zacks reports. Crexendo had a net margin of 4.75% and a return on equity of 11.33%.

Crexendo Trading Down 7.4%

CXDO traded down $0.52 on Tuesday, reaching $6.46. The stock had a trading volume of 201,920 shares, compared to its average volume of 180,746. The firm has a 50-day moving average of $6.43 and a 200-day moving average of $5.91. Crexendo has a fifty-two week low of $3.75 and a fifty-two week high of $7.34. The company has a market capitalization of $198.33 million, a price-to-earnings ratio of 64.61 and a beta of 0.83.

Analysts Set New Price Targets

Several equities analysts have weighed in on CXDO shares. Needham & Company LLC lifted their price objective on Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a report on Tuesday, October 14th. D. Boral Capital lifted their price objective on Crexendo from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Lake Street Capital lifted their price objective on Crexendo from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.80.

Check Out Our Latest Report on Crexendo

Insider Transactions at Crexendo

In other Crexendo news, CFO Ron Vincent sold 8,200 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $6.52, for a total value of $53,464.00. Following the sale, the chief financial officer owned 172,747 shares in the company, valued at approximately $1,126,310.44. The trade was a 4.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Douglas Walter Gaylor sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $6.76, for a total value of $67,600.00. Following the completion of the sale, the chief operating officer owned 238,531 shares in the company, valued at $1,612,469.56. This trade represents a 4.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,400 shares of company stock worth $141,896 in the last quarter. Corporate insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new stake in shares of Crexendo during the 1st quarter valued at about $431,000. NewEdge Advisors LLC boosted its position in shares of Crexendo by 28.1% during the 1st quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after purchasing an additional 16,267 shares in the last quarter. Jump Financial LLC boosted its position in shares of Crexendo by 142.3% during the 2nd quarter. Jump Financial LLC now owns 53,356 shares of the company’s stock valued at $324,000 after purchasing an additional 31,332 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Crexendo during the 2nd quarter valued at about $274,000. Finally, Diversify Advisory Services LLC bought a new stake in shares of Crexendo during the 2nd quarter valued at about $125,000. Institutional investors own 9.53% of the company’s stock.

Crexendo Company Profile

(Get Free Report)

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.

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