Brokerages Set QXO, Inc. (NASDAQ:QXO) Price Target at $33.73

QXO, Inc. (NASDAQ:QXO) has been given a consensus rating of “Buy” by the fourteen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $33.7273.

A number of equities research analysts have commented on the company. Morgan Stanley assumed coverage on QXO in a report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Wolfe Research began coverage on QXO in a report on Friday, June 6th. They issued an “outperform” rating and a $44.00 target price on the stock. Citigroup began coverage on QXO in a report on Wednesday, July 16th. They issued a “buy” rating and a $33.00 target price on the stock. Raymond James Financial began coverage on QXO in a report on Friday, September 5th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, William Blair began coverage on QXO in a report on Wednesday, June 18th. They issued an “outperform” rating on the stock.

Institutional Investors Weigh In On QXO

Several large investors have recently made changes to their positions in QXO. Alpha Wave Global LP bought a new stake in shares of QXO in the second quarter worth about $525,366,000. Vanguard Group Inc. increased its holdings in shares of QXO by 91.0% in the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after purchasing an additional 22,484,977 shares during the last quarter. Affinity Partners GP LP bought a new stake in QXO during the fourth quarter worth approximately $260,941,000. Schf GPE LLC increased its stake in QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after acquiring an additional 8,943,089 shares during the last quarter. Finally, Blue Investment Opportunities LLC Project Breeze Series 1 bought a new stake in QXO during the first quarter worth approximately $118,142,000. 58.68% of the stock is owned by institutional investors.

QXO Stock Down 1.2%

NASDAQ:QXO opened at $20.97 on Friday. The business’s 50-day simple moving average is $20.81 and its two-hundred day simple moving average is $17.67. The stock has a market cap of $14.13 billion, a PE ratio of -2.30, a P/E/G ratio of 4.09 and a beta of 2.35. QXO has a 52 week low of $11.85 and a 52 week high of $24.69.

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.