Pacific Crest Reiterates Hold Rating for Luxoft Holding Inc. (LXFT)
Luxoft Holding Inc. (NYSE:LXFT)‘s stock had its “hold” rating reaffirmed by equities researchers at Pacific Crest in a report released on Wednesday.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, August 17th. Wedbush started coverage on Luxoft Holding in a report on Thursday, September 8th. They issued a “neutral” rating and a $62.00 price objective for the company. Berenberg Bank reissued a “hold” rating on shares of Luxoft Holding in a report on Tuesday, August 16th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $55.00 price objective on shares of Luxoft Holding in a report on Wednesday, August 17th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $67.82.
Luxoft Holding (NYSE:LXFT) opened at 48.85 on Wednesday. The company’s 50-day moving average price is $52.23 and its 200 day moving average price is $55.09. The firm has a market capitalization of $1.62 billion, a PE ratio of 23.83 and a beta of 1.55. Luxoft Holding has a one year low of $46.58 and a one year high of $80.64.
Luxoft Holding (NYSE:LXFT) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.62 earnings per share (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 firm had revenue of $178 million for the quarter, compared to analyst estimates of $176.39 million. During the same quarter in the previous year, the company earned $0.61 EPS. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. On average, analysts forecast that Luxoft Holding will post $2.91 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of LXFT. 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 valued at $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 valued at $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 valued at $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 valued at $265,000. Finally, Fiera Capital Corp bought a new stake in Luxoft Holding during the second quarter valued at $312,000. 89.28% of the stock is owned by hedge funds and other institutional investors.
Luxoft Holding Company Profile
Luxoft Holding, Inc is a provider of software development services and information technology solutions to a client base consisting of multinational corporations. The Company’s software development services consist of custom software development and support, product engineering and testing, and technology consulting.
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