Luxoft Holding Inc. (NYSE:LXFT)‘s stock had its “buy” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a research note issued on Friday. They currently have a $80.00 price objective on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 45.85% from the company’s previous close.

Several other analysts have also issued reports on LXFT. Zacks Investment Research upgraded shares of Luxoft Holding from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 14th. Cantor Fitzgerald restated a “hold” rating and set a $61.00 price target on shares of Luxoft Holding in a research report on Monday, July 18th. Berenberg Bank restated a “hold” rating on shares of Luxoft Holding in a research report on Tuesday, August 16th. Wedbush started coverage on shares of Luxoft Holding in a research report on Thursday, September 8th. They set a “neutral” rating and a $62.00 price target for the company. Finally, Pacific Crest restated a “hold” rating on shares of Luxoft Holding in a research report on Wednesday, November 9th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Luxoft Holding presently has a consensus rating of “Hold” and an average target price of $67.42.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

Shares of Luxoft Holding (NYSE:LXFT) opened at 54.85 on Friday. The firm has a market capitalization of $1.82 billion, a P/E ratio of 29.63 and a beta of 1.55. Luxoft Holding has a 52 week low of $46.58 and a 52 week high of $80.64. The stock has a 50 day moving average price of $52.19 and a 200 day moving average price of $54.96.

Several hedge funds and other institutional investors have recently made changes to their positions in LXFT. Quantbot Technologies LP raised its position in shares of 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 position in shares of 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 position in shares of 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 purchased a new position in shares of Luxoft Holding during the second quarter valued at about $265,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Luxoft Holding during the third quarter valued at about $303,000. 91.01% 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.

5 Day Chart for NYSE:LXFT

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