QXO (NASDAQ:QXO) Now Covered by Analysts at Oppenheimer

Analysts at Oppenheimer started coverage on shares of QXO (NASDAQ:QXO) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $27.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 31.69% from the stock’s previous close.

Separately, Wolfe Research initiated coverage on shares of QXO in a research report on Friday, June 6th. They set an “outperform” rating and a $44.00 price target on the stock.

QXO Stock Performance

Shares of NASDAQ QXO opened at $20.50 on Wednesday. The company has a market capitalization of $11.86 billion, a PE ratio of -2.24, a price-to-earnings-growth ratio of 4.09 and a beta of 2.38. QXO has a 1 year low of $10.61 and a 1 year high of $259.99. The company’s fifty day moving average price is $15.04 and its 200 day moving average price is $14.67.

Institutional Trading of QXO

Large investors have recently modified their holdings of the business. Advisors Capital Management LLC lifted its stake in shares of QXO by 18.9% during the 1st quarter. Advisors Capital Management LLC now owns 646,595 shares of the company’s stock worth $8,755,000 after purchasing an additional 102,862 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in QXO by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after purchasing an additional 81,758 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new position in shares of QXO during the first quarter worth $118,142,000. Millennium Management LLC boosted its position in QXO by 6.6% in the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after buying an additional 20,067 shares during the last quarter. Finally, Eschler Asset Management LLP acquired a new stake in QXO in the first quarter valued at $812,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

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.