Luxoft Holding’s (LXFT) Hold Rating Reaffirmed at Cantor Fitzgerald
Luxoft Holding Inc. (NYSE:LXFT)‘s stock had its “hold” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Wednesday. They presently have a $55.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 0.90% from the company’s current price.
Luxoft Holding (NYSE:LXFT) opened at 54.51 on Wednesday. The stock has a market cap of $1.81 billion and a PE ratio of 26.59. The company’s 50 day moving average is $54.06 and its 200 day moving average is $55.74. Luxoft Holding has a one year low of $46.58 and a one year high of $80.64.
Luxoft Holding (NYSE:LXFT) last announced its earnings results on Thursday, August 11th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by $0.01. The company had revenue of $178 million for the quarter, compared to analysts’ expectations of $176.39 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, equities research analysts expect that Luxoft Holding will post $2.92 EPS for the current year.
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Several other equities research analysts also recently weighed in on LXFT. Zacks Investment Research raised shares of Luxoft Holding from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reissued a “hold” rating and issued a $55.00 price objective on shares of Luxoft Holding in a research report on Wednesday, May 18th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Luxoft Holding in a research report on Friday, June 17th. Berenberg Bank reissued a “hold” rating on shares of Luxoft Holding in a research report on Tuesday, August 16th. Finally, Pacific Crest initiated coverage on shares of Luxoft Holding in a research report on Tuesday, July 12th. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Luxoft Holding presently has an average rating of “Hold” and a consensus target price of $69.65.
A number of hedge funds have modified their holdings of the company. Lord Abbett & CO. LLC boosted its stake in shares of Luxoft Holding by 2.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 110,996 shares of the company’s stock worth $8,561,000 after buying an additional 2,445 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in shares of Luxoft Holding during the first quarter worth approximately $1,381,000. Pacad Investment Ltd. purchased a new position in shares of Luxoft Holding during the first quarter worth approximately $519,000. Prudential Financial Inc. purchased a new position in shares of Luxoft Holding during the first quarter worth approximately $339,000. Finally, Franklin Resources Inc. increased its position in shares of Luxoft Holding by 14.2% in the first quarter. Franklin Resources Inc. now owns 226,566 shares of the company’s stock worth $12,468,000 after buying an additional 28,093 shares during the last quarter.
Luxoft Holding, Inc is a provider of software development services and information technology (IT) solutions. The Company’s software development services consist of custom software development and support, product engineering and testing and technology consulting. The Company’s services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements.
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