Luxoft Holding, Inc. (LXFT) Now Covered by VTB Capital
Equities research analysts at VTB Capital initiated coverage on shares of Luxoft Holding, Inc. (NYSE:LXFT) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “buy” rating on the software maker’s stock.
Several other equities research analysts have also issued reports on LXFT. Zacks Investment Research raised Luxoft Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Cantor Fitzgerald reissued a “hold” rating and set a $55.00 price target on shares of Luxoft Holding in a research report on Tuesday, May 23rd. Cowen and Company upped their price target on Luxoft Holding from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 24th. UBS AG reissued a “neutral” rating and set a $66.00 price target (up from $63.00) on shares of Luxoft Holding in a research report on Thursday, May 25th. Finally, BidaskClub downgraded Luxoft Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $64.29.
Luxoft Holding (NYSE:LXFT) opened at 48.45 on Tuesday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 30.32 and a beta of 1.46. Luxoft Holding has a 52-week low of $40.15 and a 52-week high of $67.85. The company has a 50-day moving average of $61.01 and a 200-day moving average of $61.04.
Luxoft Holding (NYSE:LXFT) last posted its quarterly earnings results on Monday, May 22nd. The software maker reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The firm had revenue of $204.10 million for the quarter, compared to analyst estimates of $202.30 million. Luxoft Holding had a net margin of 7.97% and a return on equity of 21.06%. The business’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. Equities research analysts expect that Luxoft Holding will post $3.12 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its position in shares of Luxoft Holding by 9.1% in the second quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock worth $122,000 after buying an additional 168 shares during the last quarter. Bank of America Corp DE increased its position in shares of Luxoft Holding by 305.1% in the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after buying an additional 1,678 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of Luxoft Holding during the first quarter worth approximately $204,000. Pacad Investment Ltd. increased its position in shares of Luxoft Holding by 50.0% in the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after buying an additional 1,100 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Luxoft Holding by 182.0% in the second quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after buying an additional 2,215 shares during the last quarter. Hedge funds and other institutional investors own 94.78% of the company’s stock.
Luxoft Holding Company Profile
Luxoft Holding, Inc, is a provider of software development services and information technology (IT) solutions to a global client base consisting primarily of large 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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