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.

Institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. raised its stake in Luxoft by 9.1% during the second quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock worth $122,000 after acquiring an additional 168 shares during the period. Bank of America Corp DE raised its stake in Luxoft by 305.1% during the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after acquiring an additional 1,678 shares during the period. Pacad Investment Ltd. raised its stake in Luxoft by 50.0% during the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after acquiring an additional 1,100 shares during the period. Wells Fargo & Company MN increased its stake in shares of Luxoft by 182.0% in the second quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock valued at $209,000 after purchasing an additional 2,215 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Luxoft in the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

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About Luxoft

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.

Analyst Recommendations for Luxoft (NYSE:LXFT)

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