Crexendo (NASDAQ:CXDO) Price Target Lowered to $4.00 at B. Riley

Crexendo (NASDAQ:CXDOGet Rating) had its price objective lowered by B. Riley from $6.50 to $4.00 in a report published on Friday, The Fly reports. B. Riley also issued estimates for Crexendo’s Q2 2022 earnings at $0.01 EPS, Q3 2022 earnings at $0.01 EPS, Q4 2022 earnings at $0.01 EPS, FY2022 earnings at $0.05 EPS and FY2023 earnings at $0.08 EPS.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Crexendo from a strong sell rating to a hold rating in a research note on Friday, April 22nd. Lake Street Capital decreased their target price on shares of Crexendo from $9.00 to $7.00 and set a buy rating on the stock in a research note on Tuesday, March 22nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $6.88.

NASDAQ CXDO traded down $0.08 during trading hours on Friday, reaching $2.41. 20,839 shares of the company’s stock were exchanged, compared to its average volume of 19,734. The firm has a fifty day moving average of $3.28 and a 200-day moving average of $4.21. Crexendo has a one year low of $2.10 and a one year high of $7.20.

Crexendo (NASDAQ:CXDOGet Rating) last announced its quarterly earnings data on Monday, March 21st. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $9.00 million during the quarter, compared to the consensus estimate of $8.84 million. Crexendo had a negative net margin of 8.70% and a positive return on equity of 0.19%. During the same period last year, the business earned $0.37 earnings per share. As a group, equities analysts expect that Crexendo will post 0.09 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Crexendo by 3.5% in the first quarter. Vanguard Group Inc. now owns 380,579 shares of the company’s stock worth $1,382,000 after purchasing an additional 12,895 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Crexendo in the first quarter worth $88,000. Geode Capital Management LLC grew its stake in shares of Crexendo by 10.0% in the fourth quarter. Geode Capital Management LLC now owns 29,253 shares of the company’s stock worth $146,000 after purchasing an additional 2,651 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Crexendo in the fourth quarter worth $248,000. Finally, Essex Investment Management Co. LLC grew its stake in shares of Crexendo by 62.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 165,780 shares of the company’s stock worth $829,000 after purchasing an additional 63,860 shares during the last quarter. 5.79% of the stock is currently owned by hedge funds and other institutional investors.

Crexendo Company Profile (Get Rating)

Crexendo, Inc provides cloud communication, unified communications as a service, call center, collaboration, and other cloud business services for businesses in the United States, Canada, and internationally. It operates through two segments, Cloud Telecommunications and Web Services. 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 resells broadband Internet services.

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