Analysts forecast that Luxoft Holding, Inc. (NYSE:LXFT) will announce $227.66 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Luxoft Holding’s earnings, with the lowest sales estimate coming in at $223.80 million and the highest estimate coming in at $230.60 million. Luxoft Holding posted sales of $196.46 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.9%. The firm is expected to issue its next earnings results after the market closes on Thursday, November 16th.

On average, analysts expect that Luxoft Holding will report full-year sales of $227.66 million for the current financial year, with estimates ranging from $920.51 million to $922.66 million. For the next financial year, analysts anticipate that the business will post sales of $1.09 billion per share, with estimates ranging from $1.08 billion to $1.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Luxoft Holding.

LXFT has been the subject of several recent research reports. Credit Suisse Group lowered Luxoft Holding from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 7th. Zacks Investment Research lowered Luxoft Holding from a “buy” rating to a “strong sell” rating in a research report on Wednesday, August 16th. BidaskClub lowered Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Wedbush lowered Luxoft Holding from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $60.80 to $67.00 in a research report on Friday, August 11th. Finally, Cowen and Company set a $63.00 price target on Luxoft Holding and gave the stock a “buy” rating in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.14.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG lifted its stake 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. AXA lifted its stake in Luxoft Holding by 11.1% in the second quarter. AXA now owns 294,979 shares of the software maker’s stock worth $17,949,000 after purchasing an additional 29,362 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Luxoft Holding by 255.8% in the first quarter. Goldman Sachs Group Inc. now owns 88,382 shares of the software maker’s stock worth $5,528,000 after purchasing an additional 63,545 shares during the last quarter. UBS Group AG lifted its stake in Luxoft Holding by 105.4% in the first quarter. UBS Group AG now owns 6,133 shares of the software maker’s stock worth $384,000 after purchasing an additional 3,147 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Luxoft Holding in the first quarter worth about $3,568,000. 78.82% of the stock is owned by institutional investors and hedge funds.

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Shares of Luxoft Holding (LXFT) traded down 0.31% during mid-day trading on Tuesday, hitting $47.80. The company’s stock had a trading volume of 21,026 shares. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 29.91 and a beta of 1.48. Luxoft Holding has a 52-week low of $40.15 and a 52-week high of $67.85. The stock’s 50 day moving average price is $47.82 and its 200 day moving average price is $57.19.

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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