Luxoft Holding, Inc. (LXFT) Given a $63.00 Price Target by Cowen and Company Analysts
Luxoft Holding, Inc. (NYSE:LXFT) received a $63.00 price objective from research analysts at Cowen and Company in a research report issued on Friday. The firm currently has a “buy” rating on the software maker’s stock. Cowen and Company’s target price suggests a potential upside of 37.86% from the company’s previous close.
A number of other equities analysts have also weighed in on LXFT. UBS AG reaffirmed a “neutral” rating and set a $66.00 target price (up from $63.00) on shares of Luxoft Holding in a research report on Thursday, May 25th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $55.00 target price on shares of Luxoft Holding in a research report on Tuesday, May 23rd. 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 increased their price target for the company from $60.80 to $67.00 in a research report on Friday. Finally, Zacks Investment Research lowered Luxoft Holding from a “hold” rating to a “sell” rating in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Luxoft Holding currently has a consensus rating of “Hold” and an average target price of $65.00.
Shares of Luxoft Holding (NYSE LXFT) opened at 45.70 on Friday. Luxoft Holding has a one year low of $40.15 and a one year high of $67.85. The firm has a market capitalization of $1.53 billion, a P/E ratio of 28.60 and a beta of 1.46. The firm’s 50-day moving average is $61.42 and its 200 day moving average is $61.13.
Luxoft Holding (NYSE:LXFT) last issued its quarterly earnings results on Monday, May 22nd. The software maker reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Luxoft Holding had a net margin of 7.97% and a return on equity of 21.06%. The business had revenue of $204.10 million during the quarter, compared to analyst estimates of $202.30 million. During the same period last year, the firm posted $0.56 earnings per share. Luxoft Holding’s quarterly revenue was up 20.6% compared to the same quarter last year. Equities research analysts predict that Luxoft Holding will post $3.12 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of LXFT. FMR LLC increased its position in shares of Luxoft Holding by 28.2% in the first quarter. FMR LLC now owns 1,953,104 shares of the software maker’s stock valued at $122,167,000 after buying an additional 429,478 shares in the last quarter. Standard Life Investments LTD increased its position in shares of Luxoft Holding by 153.9% in the second quarter. Standard Life Investments LTD now owns 330,669 shares of the software maker’s stock valued at $20,114,000 after buying an additional 200,442 shares in the last quarter. Norges Bank bought a new position in shares of Luxoft Holding during the fourth quarter valued at approximately $10,023,000. Morgan Stanley increased its position in shares of Luxoft Holding by 6.5% in the first quarter. Morgan Stanley now owns 2,623,017 shares of the software maker’s stock valued at $164,070,000 after buying an additional 159,716 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Luxoft Holding by 37.5% in the first quarter. Russell Investments Group Ltd. now owns 278,586 shares of the software maker’s stock valued at $17,426,000 after buying an additional 75,998 shares in the last quarter. Institutional investors own 94.78% 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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