KeyCorp Research Analysts Lower Earnings Estimates for Luxoft Holding, Inc. (LXFT)

Luxoft Holding, Inc. (NYSE:LXFT) – Analysts at KeyCorp dropped their Q2 2018 EPS estimates for shares of Luxoft Holding in a report released on Sunday. KeyCorp analyst A. Ramnani now expects that the software maker will post earnings of $0.54 per share for the quarter, down from their prior estimate of $0.60. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Luxoft Holding’s Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.75 EPS and FY2019 earnings at $2.86 EPS.

A number of other equities analysts have also weighed in on LXFT. BidaskClub lowered shares of Luxoft Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Wedbush lowered shares of Luxoft Holding from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $60.80 to $67.00 in a report on Friday, August 11th. Cowen and Company set a $63.00 price target on shares of Luxoft Holding and gave the company a “buy” rating in a report on Friday, August 11th. Berenberg Bank set a $60.00 price target on shares of Luxoft Holding and gave the company a “buy” rating in a report on Monday, August 14th. Finally, VTB Capital started coverage on shares of Luxoft Holding in a report on Tuesday, August 15th. They issued a “buy” rating and a $65.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.67.

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Shares of Luxoft Holding (NYSE LXFT) traded up $0.20 during midday trading on Tuesday, reaching $46.65. 285,000 shares of the company were exchanged, compared to its average volume of 203,273. Luxoft Holding has a 1 year low of $40.15 and a 1 year high of $67.85. The firm has a market capitalization of $1,028.20, a price-to-earnings ratio of 22.23 and a beta of 1.45.

Several hedge funds have recently modified their holdings of LXFT. D.A. Davidson & CO. raised its stake in shares of Luxoft Holding by 9.1% in the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after acquiring an additional 168 shares during the period. Bank of America Corp DE increased its stake in Luxoft Holding by 305.1% during the 1st quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after buying an additional 1,678 shares during the period. Pacad Investment Ltd. increased its stake in Luxoft Holding by 50.0% during the 2nd quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after buying an additional 1,100 shares during the period. Wells Fargo & Company MN increased its stake in Luxoft Holding by 182.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after buying an additional 2,215 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Luxoft Holding during the 2nd quarter worth $210,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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.

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