Luxoft Holding Inc (LXFT) Receives $47.20 Average Price Target from Brokerages

Luxoft Holding Inc (NYSE:LXFT) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $47.20.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Luxoft from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, February 5th. Berenberg Bank downgraded shares of Luxoft from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. VTB Capital downgraded shares of Luxoft from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, JPMorgan Chase & Co. raised shares of Luxoft from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $43.00 to $59.00 in a report on Friday, January 18th.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in Luxoft by 66,900.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,680 shares of the software maker’s stock worth $157,000 after acquiring an additional 2,676 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Luxoft in the fourth quarter worth about $168,000. Virtu Financial LLC bought a new stake in Luxoft in the first quarter worth about $263,000. Hsbc Holdings PLC raised its position in Luxoft by 8.2% in the fourth quarter. Hsbc Holdings PLC now owns 9,034 shares of the software maker’s stock worth $275,000 after acquiring an additional 681 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Luxoft in the first quarter worth about $282,000. Institutional investors and hedge funds own 56.25% of the company’s stock.

Luxoft stock traded down $0.04 during mid-day trading on Monday, reaching $58.50. The company’s stock had a trading volume of 5,129 shares, compared to its average volume of 594,800. The company has a market cap of $1.98 billion, a PE ratio of 27.96 and a beta of 2.37. Luxoft has a twelve month low of $29.73 and a twelve month high of $58.99.

Luxoft (NYSE:LXFT) last announced its quarterly earnings results on Wednesday, February 13th. The software maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.15. Luxoft had a net margin of 4.60% and a return on equity of 12.33%. The company had revenue of $230.36 million during the quarter, compared to the consensus estimate of $233.85 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts predict that Luxoft will post 1.83 EPS for the current year.

Luxoft Company Profile

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.

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Analyst Recommendations for Luxoft (NYSE:LXFT)

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