Luxoft Holding, Inc. (LXFT) Updates FY18 Earnings Guidance
Luxoft Holding, Inc. (NYSE:LXFT) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of at least $2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.90. The company issued revenue guidance of at least $920 million, compared to the consensus revenue estimate of $922.72 million.
Several research analysts have issued reports on the stock. Cantor Fitzgerald restated a hold rating and set a $47.00 price target on shares of Luxoft Holding in a report on Friday. Berenberg Bank set a $60.00 price target on shares of Luxoft Holding and gave the stock 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. 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 target for the company. Finally, BidaskClub upgraded shares of Luxoft Holding from a sell rating to a hold rating in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Luxoft Holding presently has a consensus rating of Hold and an average target price of $61.33.
Shares of Luxoft Holding, Inc. (NYSE LXFT) opened at $46.95 on Friday. The company has a market cap of $1,041.49, a P/E ratio of 22.51 and a beta of 1.45. Luxoft Holding, Inc. has a 52-week low of $40.15 and a 52-week high of $67.85.
A hedge fund recently raised its stake in Luxoft Holding stock. State Street Corp lifted its stake in shares of Luxoft Holding, Inc. (NYSE:LXFT) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,008 shares of the software maker’s stock after buying an additional 523 shares during the quarter. State Street Corp owned about 0.09% of Luxoft Holding worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 80.69% of the company’s stock.
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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