Xero (OTCMKTS:XROLF) Trading Up 4.8% – Here’s Why

Xero Limited (OTCMKTS:XROLF)’s share price was up 4.8% during trading on Tuesday . The company traded as high as $57.65 and last traded at $57.65. Approximately 1,463 shares changed hands during trading, a decline of 29% from the average daily volume of 2,074 shares. The stock had previously closed at $55.00.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada upgraded Xero from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Xero has a consensus rating of “Buy”.

Xero Price Performance

The company’s 50-day moving average price is $70.69 and its two-hundred day moving average price is $90.71.

About Xero

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.