Is Crexendo (CXDO) A Smart Long-Term Buy?

Singular Research, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For 2021, the Singular coverage list outperformed the S&P 500 and Russell 2000 by 376 and 1,696 basis points, respectively. Since Singular’s 2004 inception, the Singular coverage list has respectively outperformed the S&P 500 and Russell 2000 by an annualized 405 and 427 basis points. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Singular Research, in its Q4 2021 investor letter, mentioned Crexendo, Inc. (NASDAQ:CXDO) and discussed its stance on the firm. Founded in 2017, Crexendo, Inc. (NASDAQ:CXDO) is a Tempe, Arizona-based cloud-based UCaaS communication service company with a $72.3 million market capitalization, and is currently spearheaded by its CEO, Steve Mihaylo. Crexendo, Inc. (NASDAQ:CXDO) delivered a -35.00% return since the beginning of the year, while its 12-month returns are down by -49.77%. The stock closed at $3.25 per share on April 08, 2022.

Here is what Singular Research has to say about Crexendo, Inc. (NASDAQ:CXDO) in its Q4 2021 investor letter: 

“In December, global markets recovered from November’s omicron scare as Covid worries dissipated given the fact that the new variant has not been as severe or vaccine-resistant as previously anticipated. For the month, we initiated coverage on Crexendo, Inc. (NASDAQ:CXDO). CXDO is a provider of cloud communications, UCaaS (Unified Communications as a Service), call center, collaboration services, and other cloud business services to enterprises of any size.”

Our calculations show that Crexendo, Inc. (NASDAQ:CXDO) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Crexendo, Inc. (NASDAQ:CXDO) was in 2 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 1 fund in the previous quarter. Crexendo, Inc. (NASDAQ:CXDO) delivered a -31.72% return in the past 3 months. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.