Luxoft (NYSE:LXFT) released its quarterly earnings results on Tuesday. The software maker reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01), MarketWatch Earnings reports. Luxoft had a net margin of 6.72% and a return on equity of 17.07%. The company had revenue of $232.90 million during the quarter, compared to analyst estimates of $228.74 million. During the same quarter last year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year.
Shares of LXFT traded down $10.40 during midday trading on Thursday, reaching $32.80. 78,866 shares of the stock were exchanged, compared to its average volume of 176,723. Luxoft has a 12-month low of $38.50 and a 12-month high of $66.55. The company has a market capitalization of $1.43 billion, a PE ratio of 15.82 and a beta of 1.65.
Several equities research analysts recently issued reports on the company. KeyCorp reduced their price objective on Luxoft from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday. ValuEngine raised Luxoft from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Luxoft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 18th. VTB Capital raised Luxoft from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Finally, Credit Suisse Group reduced their price objective on Luxoft from $50.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $57.55.
Luxoft Company Profile
Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations primarily in Europe and the United States. It offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services.
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