10 Oversold Small Cap Stocks to Buy Right Now

2) Xerox Holdings Corporation (NASDAQ:XRX)

Market Cap (As of October 23): $1.26 billion

Forward P/E (As of October 23): 5.76x

% Decline on a YTD Basis: ~43%

Number of Hedge Fund Holders: 28

Xerox Holdings Corporation (NASDAQ:XRX) operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally.

Wall Street remains optimistic about the reinvention strategy of Xerox Holdings Corporation (NASDAQ:XRX). This strategy targets to improve adjusted operating income over the upcoming years. The company believes that equipment orders and new product launches are expected to drive stronger revenue growth in H2 2024. Notably, Xerox Holdings Corporation (NASDAQ:XRX) continues to focus on expanding its offerings in the A4 and A3 categories. Also, it plans to venture into new segments in the production market.

Given its focus on digital transformation, cost savings initiatives, and market expansion, the company is well-placed to continue its growth trajectory. The analysts believe that Xerox Holdings Corporation (NASDAQ:XRX) has been repositioning some aspects of its Reinvention Plan, which should benefit its strategic execution over the long term. Eventually, this can result in a revenue increase in calendar years 2025 and 2026.

Xerox Holdings Corporation (NASDAQ:XRX)’s current year acts as a period of strategic realignment as it remains focused on setting the stage for strong revenue growth and operational efficiencies. It has been pivoting towards a business unit-led operating model. The company is expected to enhance its digital and IT services sales to its existing customer base.

As per Wall Street, the shares of Xerox Holdings Corporation (NASDAQ:XRX) have an average price target of $14.00.