What was the highest ever Xero Limited (ASX: XRO) share price? If you’ve been paying attention to the ASX share market of late, you would know that it hasn’t been recent.
Like many ASX 200 tech shares, the company’s share price has had a punishing 2022 thus far. Shares of the online accounting software provider have plunged by more than 41% over the year to date. Yet, at the time of writing, Xero is up an encouraging 2.12% for the day so far, going for $83.89 a share.
The steep long-term fall in the Xero share price is arguably not the result of anything to do with Xero’s underlying performance. The company’s last update came last month with its full-year results for FY2022. They showed subscriber growth of 19% to 3.3 million, as well as revenue growth of 29%.
However, 2022 has seen investors shun companies that tend to get priced on future growth projections as concerns over interest rates and inflation have heated up. Xero has not been immune, as its year-to-date performance shows.
So when was the Xero share price’s last all-time high?
The company’s last 52-week high occurred back in November last year. That saw Xero hit an intraday high of $156.65 a share, which certainly feels like a long way from the current share price in the low $80 range.
But this 52-week high was not the highest the shares have ever traded at.
Xero’s all-time high watermark was seen back in December 2020. First, we saw the company reach $156.72 on 15 December. Then, on 18 December, the Xero share price hit an intraday high of $157.99. That remains Xero’s highest share price to this day.
It’s also 47% higher than the company’s current share price.
No doubt investors are hoping the company can get back to its old highs soon. But we shall have to wait and see.
At the current Xero share price, this ASX 200 tech share has a market capitalisation of $12.47 billion.
The post What was the highest ever Xero share price? appeared first on The Motley Fool Australia.
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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