Luxoft Holding, Inc. (LXFT) Earns “Buy” Rating from Cowen and Company
Luxoft Holding, Inc. (NYSE:LXFT)‘s stock had its “buy” rating restated by equities research analysts at Cowen and Company in a research note issued to investors on Thursday. They currently have a $63.00 price objective on the software maker’s stock. Cowen and Company’s price target would indicate a potential upside of 35.48% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Berenberg Bank set a $60.00 price objective on shares of Luxoft Holding and gave the company a “buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Luxoft Holding from a “buy” rating to a “strong sell” rating in a report on Wednesday, August 16th. KeyCorp reissued a “hold” rating on shares of Luxoft Holding in a report on Thursday, September 28th. VTB Capital assumed coverage on shares of Luxoft Holding in a report on Tuesday, August 15th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Wedbush lowered shares of Luxoft Holding from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $60.80 to $67.00 in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $65.14.
Shares of Luxoft Holding (NYSE LXFT) traded down 1.17% during mid-day trading on Thursday, hitting $46.50. The stock had a trading volume of 357,101 shares. The company’s 50 day moving average is $48.05 and its 200-day moving average is $57.91. The stock has a market cap of $1.56 billion, a P/E ratio of 29.10 and a beta of 1.47. Luxoft Holding has a 52-week low of $40.15 and a 52-week high of $67.85.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Luxoft Holding by 5.4% in the second quarter. FMR LLC now owns 2,058,143 shares of the software maker’s stock worth $125,239,000 after purchasing an additional 105,039 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in Luxoft Holding by 5.3% in the second quarter. Wasatch Advisors Inc. now owns 1,645,647 shares of the software maker’s stock worth $100,138,000 after purchasing an additional 82,333 shares during the last quarter. Prudential PLC grew its holdings in Luxoft Holding by 2.4% in the second quarter. Prudential PLC now owns 782,042 shares of the software maker’s stock worth $47,587,000 after purchasing an additional 18,476 shares during the last quarter. Standard Life Investments LTD grew its holdings in Luxoft Holding by 153.9% in the second quarter. Standard Life Investments LTD now owns 330,669 shares of the software maker’s stock worth $20,114,000 after purchasing an additional 200,442 shares during the last quarter. Finally, Credit Suisse AG grew its holdings in Luxoft Holding by 1.6% in the first quarter. Credit Suisse AG now owns 322,811 shares of the software maker’s stock worth $20,192,000 after purchasing an additional 5,148 shares during the last quarter. 80.02% of the stock is currently owned by institutional investors and hedge funds.
About Luxoft Holding
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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