Pivotal Research Initiates Coverage on Luxoft (LXFT)
Stock analysts at Pivotal Research began coverage on shares of Luxoft (NYSE:LXFT) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $70.00 price target on the software maker’s stock. Pivotal Research’s target price would suggest a potential upside of 34.87% from the company’s previous close.
LXFT has been the subject of a number of other reports. VTB Capital assumed coverage on Luxoft in a report on Tuesday, August 15th. They set a “buy” rating and a $65.00 price objective for the company. Cowen set a $63.00 price objective on Luxoft and gave the stock a “buy” rating in a report on Friday, August 11th. KeyCorp restated a “hold” rating on shares of Luxoft in a report on Friday, November 3rd. Credit Suisse Group cut shares of Luxoft from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research cut shares of Luxoft from a “buy” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $60.75.
Shares of Luxoft (LXFT) traded up $1.35 on Tuesday, reaching $51.90. The company’s stock had a trading volume of 206,272 shares, compared to its average volume of 212,259. The firm has a market cap of $1,723.60, a P/E ratio of 24.47 and a beta of 1.48. Luxoft has a 52 week low of $40.15 and a 52 week high of $67.85.
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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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