QXO, Inc. $QXO Position Boosted by Granahan Investment Management LLC

Granahan Investment Management LLC raised its holdings in shares of QXO, Inc. (NYSE:QXO) by 28.8% during the 4th quarter, HoldingsChannel reports. The fund owned 799,612 shares of the company’s stock after purchasing an additional 178,793 shares during the period. Granahan Investment Management LLC’s holdings in QXO were worth $15,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arax Advisory Partners purchased a new position in QXO during the 4th quarter valued at about $25,000. Russell Investments Group Ltd. purchased a new position in QXO during the 2nd quarter valued at about $30,000. LRI Investments LLC grew its stake in QXO by 129.1% during the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after acquiring an additional 835 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after acquiring an additional 575 shares in the last quarter. Finally, Allworth Financial LP grew its stake in QXO by 66.9% during the 3rd quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock valued at $39,000 after acquiring an additional 813 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Up 1.6%

QXO opened at $16.96 on Wednesday. The business has a 50 day moving average price of $18.76 and a 200 day moving average price of $21.00. QXO, Inc. has a twelve month low of $14.75 and a twelve month high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The firm has a market cap of $12.30 billion, a P/E ratio of -18.64, a price-to-earnings-growth ratio of 4.28 and a beta of 2.30.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The firm’s quarterly revenue was up 12716.3% on a year-over-year basis. Research analysts forecast that QXO, Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on QXO shares. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Robert W. Baird lowered their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Stephens lowered their target price on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Finally, Royal Bank Of Canada lowered their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, QXO has an average rating of “Moderate Buy” and an average target price of $31.14.

QXO Company Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.