Luxoft Holding, Inc. (LXFT) Receives “Hold” Rating from Cantor Fitzgerald

Luxoft Holding, Inc. (NYSE:LXFT)‘s stock had its “hold” rating reissued by Cantor Fitzgerald in a research note issued to investors on Friday. They currently have a $47.00 price objective on the software maker’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 0.11% from the stock’s previous close.

The analysts wrote, “2QFY18 revenues in line with consensus. Revenue for 2QFY18 was $228.0 mn, up 9.0% q/q and 16.1% y/y, vs. our estimate of $226.9 mn and the $227.9 mn FactSet consensus. The adjusted operating profit of $32.2 mn (14.1% adjusted operating margin) was up 2% y/y and was well above our estimate of $28.5 mn. Non-GAAP EPS was $0.82 vs. our estimate of $0.70 and the consensus of $0.77. Our Performance Table is on pg. 2.””

Several other research firms also recently weighed in on LXFT. BidaskClub downgraded Luxoft Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Wedbush downgraded Luxoft Holding from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $60.80 to $67.00 in a research note on Friday, August 11th. Cowen and Company set a $63.00 price target on Luxoft Holding and gave the company a “buy” rating in a research note on Friday, August 11th. Berenberg Bank set a $60.00 price target on Luxoft Holding and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, VTB Capital began coverage on Luxoft Holding in a research note on Tuesday, August 15th. They set 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 issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.33.

Luxoft Holding (NYSE LXFT) opened at $46.95 on Friday. Luxoft Holding has a 1 year low of $40.15 and a 1 year high of $67.85. The stock has a market capitalization of $1,032.63, a PE ratio of 22.32 and a beta of 1.45.

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Institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its position in Luxoft Holding by 9.1% during the second quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock worth $122,000 after purchasing an additional 168 shares in the last quarter. Bank of America Corp DE boosted its position in Luxoft Holding by 305.1% during the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock worth $139,000 after purchasing an additional 1,678 shares in the last quarter. Pacad Investment Ltd. boosted its position in Luxoft Holding by 50.0% during the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock worth $201,000 after purchasing an additional 1,100 shares in the last quarter. Wells Fargo & Company MN boosted its position in Luxoft Holding by 182.0% during the second quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after purchasing an additional 2,215 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Luxoft Holding during the second quarter worth approximately $210,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.

Analyst Recommendations for Luxoft Holding (NYSE:LXFT)

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