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.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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