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.
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.
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