Luxoft Holding Inc. (LXFT) Upgraded to “Buy” at Zacks Investment Research
Luxoft Holding Inc. (NYSE:LXFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $59.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.23% from the company’s previous close.
According to Zacks, “Luxoft Holding, Inc. offers software development services and information technology solutions. Its software development services consist of software development and support, product engineering and testing and technology consulting. The Company focuses on six industry verticals: financial services, travel and aviation, technology, telecom, automotive and transport and energy. It operates primarily in Western Europe and North America. Luxoft Holding, Inc. is based in Tortola, Virgin Islands. “
Several other equities analysts have also commented on the company. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $61.00 price target on shares of Luxoft Holding in a research note on Wednesday, July 6th. Wedbush started coverage on Luxoft Holding in a research note on Thursday, September 8th. They issued a “neutral” rating and a $62.00 price target on the stock. Monness Crespi & Hardt decreased their price target on Luxoft Holding from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday, June 28th. Pacific Crest started coverage on Luxoft Holding in a research note on Tuesday, July 12th. They issued a “sector weight” rating on the stock. Finally, Berenberg Bank reissued a “hold” rating on shares of Luxoft Holding in a research note on Tuesday, August 16th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $67.82.
Luxoft Holding (NYSE:LXFT) opened at 52.57 on Wednesday. The company has a 50-day moving average of $52.86 and a 200-day moving average of $55.68. Luxoft Holding has a 52 week low of $46.58 and a 52 week high of $80.64. The company has a market cap of $1.74 billion, a PE ratio of 25.64 and a beta of 1.56.
Luxoft Holding (NYSE:LXFT) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Luxoft Holding had a net margin of 10.24% and a return on equity of 24.69%. The business earned $178 million during the quarter, compared to analyst estimates of $176.39 million. During the same period last year, the company earned $0.61 EPS. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, equities analysts expect that Luxoft Holding will post $2.92 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Quantbot Technologies LP raised its stake in Luxoft Holding by 1,599.4% in the second quarter. Quantbot Technologies LP now owns 2,906 shares of the company’s stock worth $151,000 after buying an additional 2,735 shares in the last quarter. Amica Retiree Medical Trust raised its stake in Luxoft Holding by 108.1% in the second quarter. Amica Retiree Medical Trust now owns 4,148 shares of the company’s stock worth $216,000 after buying an additional 2,155 shares in the last quarter. Royal Bank of Canada raised its stake in Luxoft Holding by 1,143.6% in the second quarter. Royal Bank of Canada now owns 4,875 shares of the company’s stock worth $254,000 after buying an additional 4,483 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Luxoft Holding during the second quarter worth about $265,000. Finally, Fiera Capital Corp bought a new stake in Luxoft Holding during the second quarter worth about $312,000. 87.74% of the stock is currently owned by institutional investors.
Luxoft Holding Company Profile
Luxoft Holding, Inc is a provider of software development services and information technology (IT) solutions. The Company’s software development services consist of custom software development and support, product engineering and testing and technology consulting. The Company’s services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements.
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