Luxoft Holding Inc. (LXFT) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Luxoft Holding Inc. (NYSE:LXFT) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $59.00 target price on the stock.
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. “
A number of other research firms have also issued reports on LXFT. Cantor Fitzgerald reaffirmed a hold rating and issued a $55.00 target price on shares of Luxoft Holding in a report on Wednesday, September 7th. Berenberg Bank reaffirmed a hold rating on shares of Luxoft Holding in a report on Tuesday, August 16th. Pacific Crest initiated coverage on Luxoft Holding in a report on Tuesday, July 12th. They issued a sector weight rating on the stock. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Luxoft Holding in a report on Friday, June 17th. Finally, Monness Crespi & Hardt lowered their target price on Luxoft Holding from $84.00 to $78.00 and set a buy rating on the stock in a report on Tuesday, June 28th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $67.82.
Shares of Luxoft Holding (NYSE:LXFT) opened at 52.19 on Wednesday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 25.46 and a beta of 1.56. The firm has a 50-day moving average price of $52.98 and a 200 day moving average price of $55.62. Luxoft Holding has a 12 month low of $46.58 and a 12 month high of $80.64.
Luxoft Holding (NYSE:LXFT) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.62 earnings per share for the quarter, missing the Zacks’ 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 company earned $178 million during the quarter, compared to the consensus estimate of $176.39 million. During the same period in the previous year, the business posted $0.61 earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis. On average, analysts anticipate that Luxoft Holding will post $2.92 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its position 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 during the period. Amica Retiree Medical Trust increased its position 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 during the period. Royal Bank of Canada increased its position 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 during the period. Tower Research Capital LLC TRC bought a new position in Luxoft Holding during the second quarter valued at approximately $265,000. Finally, Fiera Capital Corp bought a new position in Luxoft Holding during the second quarter valued at approximately $312,000. Institutional investors and hedge funds own 87.64% of the company’s stock.
About Luxoft Holding
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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