Luxoft Holding, Inc. (LXFT) Coverage Initiated at VTB Capital

VTB Capital assumed coverage on shares of Luxoft Holding, Inc. (NYSE:LXFT) in a research report released on Tuesday morning. The brokerage issued a buy rating and a $65.00 target price on the software maker’s stock.

A number of other research firms also recently commented on LXFT. Zacks Investment Research downgraded shares of Luxoft Holding from a hold rating to a sell rating in a research note on Friday, May 26th. Berenberg Bank set a $60.00 price objective on shares of Luxoft Holding and gave the stock a buy rating in a research note on Monday, August 14th. UBS AG restated a neutral rating and set a $66.00 price objective (up from $63.00) on shares of Luxoft Holding in a research note on Thursday, May 25th. Cantor Fitzgerald restated a hold rating and set a $55.00 price objective on shares of Luxoft Holding in a research note on Tuesday, May 23rd. Finally, Cowen and Company set a $68.00 price objective on shares of Luxoft Holding and gave the stock a buy rating in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $64.38.

Shares of Luxoft Holding (NYSE:LXFT) opened at 48.05 on Tuesday. The firm has a market cap of $1.61 billion, a PE ratio of 30.07 and a beta of 1.46. The company’s 50-day moving average price is $59.50 and its 200-day moving average price is $60.71. Luxoft Holding has a 52-week low of $40.15 and a 52-week high of $67.85.

Luxoft Holding (NYSE:LXFT) last posted its quarterly earnings data on Monday, May 22nd. The software maker reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. Luxoft Holding had a return on equity of 18.90% and a net margin of 6.72%. The business had revenue of $204.10 million for the quarter, compared to analyst estimates of $202.30 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. Equities analysts expect that Luxoft Holding will post $2.88 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of LXFT. Alliancebernstein L.P. purchased a new stake in shares of Luxoft Holding during the first quarter valued at about $918,000. Clinton Group Inc. increased its stake in shares of Luxoft Holding by 20.2% in the first quarter. Clinton Group Inc. now owns 9,045 shares of the software maker’s stock valued at $566,000 after buying an additional 1,522 shares during the period. Comgest Global Investors S.A.S. increased its stake in shares of Luxoft Holding by 43.1% in the first quarter. Comgest Global Investors S.A.S. now owns 238,500 shares of the software maker’s stock valued at $14,918,000 after buying an additional 71,800 shares during the period. Oxford Asset Management purchased a new stake in shares of Luxoft Holding during the first quarter valued at about $1,654,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Luxoft Holding by 53.0% in the first quarter. Parametric Portfolio Associates LLC now owns 58,910 shares of the software maker’s stock valued at $3,685,000 after buying an additional 20,396 shares during the period. Institutional investors and hedge funds own 94.78% of the company’s stock.

Luxoft Holding Company Profile

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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