VTB Capital Upgrades Luxoft (LXFT) to “Buy”
Luxoft (NYSE:LXFT) was upgraded by equities research analysts at VTB Capital from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $50.00 price target on the software maker’s stock. VTB Capital’s price target suggests a potential upside of 50.15% from the stock’s current price.
Several other research analysts have also weighed in on LXFT. Credit Suisse Group set a $38.00 price target on Luxoft and gave the stock a “hold” rating in a research report on Thursday. Zacks Investment Research lowered Luxoft from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. ValuEngine raised Luxoft from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. JPMorgan Chase & Co. lowered Luxoft from a “neutral” rating to an “underweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $52.00 price target on shares of Luxoft in a research report on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Luxoft currently has an average rating of “Hold” and an average target price of $49.50.
NYSE:LXFT opened at $33.30 on Friday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 15.93 and a beta of 1.73. Luxoft has a twelve month low of $31.50 and a twelve month high of $59.05.
Several hedge funds have recently bought and sold shares of LXFT. Virtu Financial LLC acquired a new position in shares of Luxoft during the 3rd quarter worth approximately $214,000. Capital Fund Management S.A. acquired a new position in shares of Luxoft during the 2nd quarter worth approximately $291,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Luxoft during the 3rd quarter worth approximately $379,000. Jane Street Group LLC acquired a new position in shares of Luxoft during the 2nd quarter worth approximately $384,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Luxoft during the 3rd quarter worth approximately $396,000. 56.12% of the stock is currently owned by institutional investors and hedge funds.
Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.
Featured Story: Put Option
Receive News & Ratings for Luxoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luxoft and related companies with MarketBeat.com's FREE daily email newsletter.