Crexendo (NASDAQ:CXDO) Price Target Raised to $10.00 at D. Boral Capital

Crexendo (NASDAQ:CXDO - Get Free Report) had its price objective increased by research analysts at D. Boral Capital from $7.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. D. Boral Capital's price objective would indicate a potential upside of 54.56% from the company's current price.

Separately, B. Riley reaffirmed a "buy" rating and set a $7.50 price objective (up from $6.75) on shares of Crexendo in a research note on Wednesday.

Crexendo Price Performance

Shares of NASDAQ:CXDO traded down $0.28 during trading on Thursday, hitting $6.47. The company had a trading volume of 457,018 shares, compared to its average volume of 148,949. The stock has a market cap of $172.85 million, a price-to-earnings ratio of 215.74 and a beta of 1.15. The company has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $5.38. Crexendo has a one year low of $2.92 and a one year high of $7.34.

Insiders Place Their Bets

In other news, CTO David Tzat-Kin Wang sold 6,000 shares of Crexendo stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.15, for a total transaction of $30,900.00. Following the completion of the sale, the chief technology officer now directly owns 443,079 shares in the company, valued at approximately $2,281,856.85. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey G. Korn sold 7,000 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now owns 249,730 shares in the company, valued at approximately $1,311,082.50. The trade was a 2.73 % 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 over the last 90 days. Insiders own 56.20% of the company's stock.

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Institutional Trading of Crexendo

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Resource Council purchased a new position in Crexendo during the 3rd quarter worth $93,000. GSA Capital Partners LLP grew its position in shares of 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 buying an additional 5,139 shares in the last quarter. Barclays PLC bought a new position in shares of Crexendo during the 3rd quarter worth $109,000. Geode Capital Management LLC increased its stake in shares of Crexendo by 18.4% during the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company's stock valued at $651,000 after buying an additional 21,739 shares during the period. Finally, ARS Investment Partners LLC bought a new stake in shares of Crexendo in the fourth quarter valued at about $243,000. 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.