Xerox Holdings Corp (NASDAQ:XRX) shares continued their upward trajectory on Friday.

The stock rose nearly 18% in early trading following a significant revenue beat. This rally builds on momentum from Thursday's session.

The Nasdaq is up 1% while the S&P 500 has gained 0.61%.

Revenue Beats And Short Interest

Xerox reported first-quarter sales of $1.846 billion. This figure surpassed the analyst consensus estimate of $1.747 billion.

This performance marks a sharp increase from $1.457 billion in the prior-year period.

Despite the revenue win, the company reported an adjusted loss of 43 cents per share. This missed the projected 27-cent loss.

High short interest acted as a primary catalyst for the price action. Data shows short interest exceeded 28% of the float.

Liquidity And 2026 Guidance

Xerox strengthened its balance sheet by raising $450 million via an IP joint venture. Management reaffirmed full-year 2026 revenue guidance above $7.5 billion.

Technical Analysis

The stock is trading 55.1% above its 20-day simple moving average (SMA) and 45.6% above its 100-day SMA.

The relative strength index (RSI), a momentum gauge, is 73.31.

Over the last 12 months, the stock has been down 17.57%, which shows the longer-term tape has still been a headwind despite the recent bounce. It's also well below the $6.80 52-week high and above the $1.19 52-week low.

  • Key Resistance: $2.50
  • Key Support: $2

XRX Price Action: Xerox Holdings shares were up 7.56% at $2.42 at the time of publication on Friday, according to Benzinga Pro data.

Photo by T. Schneider via Shutterstock