GXO Logistics Faces Stock Pressure Despite New Partnership

GXO Logistics ( (GXO) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.

GXO Logistics’ stock has taken a hit due to Goldman Sachs lowering its price target from $63 to $54. This decision stems from challenging foreign exchange conditions, as only about a quarter of GXO’s revenue is generated in North America, affecting its future earnings forecasts. Additionally, the company’s leverage and rising expense estimates are putting pressure on its EBITDA. On a positive note, GXO recently announced a new partnership with The Perfume Shop, aiming to enhance its delivery capabilities to over 200 stores weekly.

More about GXO Logistics

YTD Price Performance: 4.30%

Average Trading Volume: 1,408,805

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $5.2B

For further insights into GXO stock on TipRanks’ Stock Analysis page.

See more of today’s top stock gainers and losers.