Xero (OTCMKTS:XROLF) Shares Down 1.7% – Here’s What Happened

Xero Limited (OTCMKTS:XROLF) traded down 1.7% during trading on Friday . The stock traded as low as $73.70 and last traded at $73.70. 150 shares changed hands during trading, a decline of 73% from the average session volume of 556 shares. The stock had previously closed at $75.00.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada cut Xero from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Xero has an average rating of “Hold”.

Xero Stock Performance

The firm’s 50 day simple moving average is $84.33 and its 200-day simple moving average is $102.15.

Xero Company Profile

Xero Limited is a global software company specializing in cloud-based accounting solutions designed for small and medium-sized businesses. Its core platform enables users to manage invoicing, bank reconciliation, payroll, expense tracking and inventory in a unified environment. The company’s ecosystem supports seamless integration with a broad range of third-party applications, extending functionality in areas such as payments, analytics, time tracking and e-commerce.

Founded in Wellington, New Zealand, in 2006 by Rod Drury, Xero has grown from a local startup into a multinational technology provider.