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

Crexendo (NASDAQ:CXDO) released its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01), Zacks reports. Crexendo had a net margin of 2.09% and a return on equity of 9.09%.

Crexendo Stock Performance

Shares of NASDAQ:CXDO traded down $0.14 during midday trading on Tuesday, reaching $5.77. 199,316 shares of the company’s stock traded hands, compared to its average volume of 150,669. The company has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $5.34. Crexendo has a 1 year low of $2.92 and a 1 year high of $7.09. The company has a market cap of $154.15 million, a P/E ratio of 192.40 and a beta of 1.11.

Insider Buying and Selling

In other news, CEO Jeffrey G. Korn sold 7,000 shares of the firm’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 value of $36,750.00. Following the transaction, the chief executive officer now owns 249,730 shares in the company, valued at $1,311,082.50. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David Tzat-Kin Wang sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $5.15, for a total value of $30,900.00. Following the sale, the chief technology officer now owns 443,079 shares of the company’s stock, valued at $2,281,856.85. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,960 shares of company stock valued at $653,627. 56.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crexendo

An institutional investor recently raised its position in Crexendo stock. Bank of America Corp DE boosted its holdings in shares of Crexendo, Inc. (NASDAQ:CXDO) by 71.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,174 shares of the company’s stock after acquiring an additional 2,578 shares during the period. Bank of America Corp DE’s holdings in Crexendo were worth $32,000 at the end of the most recent reporting period. Institutional investors own 9.53% of the company’s stock.

Analysts Set New Price Targets

Separately, D. Boral Capital assumed coverage on shares of Crexendo in a research note on Tuesday, January 21st. They set a “buy” rating and a $7.00 target price on the 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.