Luxoft Holding, Inc. (NYSE:LXFT) Stock Rating Reaffirmed by Cowen and Company

Judith Bessette
Agosto 13, 2017

Finally, Wedbush lowered Luxoft Holding from an "outperform" rating to a "neutral" rating and increased their price objective for the company from $60.80 to $67.00 in a research note on Friday. The firm owned 5,073 shares of the software maker's stock after buying an additional 412 shares during the period. The value of the investment in (LXFT) increased from $2,052,000 to $2,200,000 a change of $148,000 for the reporting period. BidaskClub downgraded Luxoft Holding from a "hold" rating to a "sell" rating in a research note on Saturday, August 5th. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share. UBS AG reiterated a "neutral" rating and issued a $66.00 price target (up from $63.00) on shares of Luxoft Holding in a report on Thursday, May 25th. Still, four of the seven analysts following the stock rate it a "strong buy", leaving room for additional bearish notes in the near term. Luxoft Holding presently has a consensus rating of Hold and an average price target of $65.00.

Shares of Luxoft Holding (NYSE LXFT) traded down 23.19% during mid-day trading on Friday, hitting $46.70. At the stock's average daily trading volume, it would take more than a week to buy back all the shorted shares.

The P/E ratio is now 25.340 and the market value is 1.56B. Down roughly 17% year-to-date, Luxoft stock is poised to close below its 200-day moving average for the first time in 2017.

In Technology sector, Luxoft Holding, Inc. Luxoft Holding, Inc. (LXFT)'s RSI (Relative Strength Index) is 41.18. The software maker reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.51 by $0.05. Luxoft Holding had a net margin of 7.97% and a return on equity of 21.06%. The company had revenue of $204.10 million during the quarter, compared to analysts' expectations of $202.30 million. During the same quarter past year, the company earned $0.56 EPS. The firm's quarterly revenue was up 20.6% on a year-over-year basis. Equities analysts anticipate that Luxoft Holding will post $3.39 EPS for the current year.

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Janney Capital Management LLC boosted its position in shares of Luxoft Holding, Inc.

A hedge fund recently raised its stake in Luxoft Holding stock. State Street Corp raised its stake in shares of Luxoft Holding by 350.7% in the fourth quarter. Comgest Global Investors S.A.S. increased its position in Luxoft Holding by 43.1% in the first quarter. The State Treasurer State Of Michigan holds 1.38M shares with $33.86M value, up from 772,700 last quarter. Clinton Group Inc. now owns 9,045 shares of the software maker's stock worth $566,000 after buying an additional 1,522 shares during the period. Norges Bank bought a new position in Luxoft Holding during the fourth quarter worth about $10,023,000.

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.

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