Luxoft (NYSE:LXFT) had its target price boosted by analysts at Cantor Fitzgerald from $46.00 to $52.00 in a research note issued on Wednesday. The brokerage currently has an “overweight” rating on the software maker’s stock. Cantor Fitzgerald’s target price points to a potential upside of 12.43% from the company’s previous close.
Several other brokerages have also recently commented on LXFT. ValuEngine raised shares of Luxoft from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut shares of Luxoft from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Pivotal Research set a $35.00 price target on shares of Luxoft and gave the stock a “hold” rating in a research report on Sunday, June 3rd. William Blair cut shares of Luxoft from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 24th. Finally, KeyCorp increased their price target on shares of Luxoft from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Luxoft presently has an average rating of “Hold” and a consensus target price of $49.67.
Shares of NYSE LXFT opened at $46.25 on Wednesday. Luxoft has a 12-month low of $31.50 and a 12-month high of $59.05. The firm has a market capitalization of $1.57 billion, a P/E ratio of 22.13 and a beta of 1.76.
Luxoft (NYSE:LXFT) last announced its quarterly earnings results on Wednesday, August 15th. The software maker reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.28. The firm had revenue of $212.79 million during the quarter, compared to the consensus estimate of $212.44 million. Luxoft had a return on equity of 15.44% and a net margin of 6.09%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. equities analysts anticipate that Luxoft will post 1.59 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of LXFT. Wells Fargo & Company MN increased its stake in shares of Luxoft by 6.5% during the first quarter. Wells Fargo & Company MN now owns 23,679 shares of the software maker’s stock valued at $970,000 after acquiring an additional 1,448 shares during the period. Barings LLC boosted its holdings in Luxoft by 125.1% during the first quarter. Barings LLC now owns 348,398 shares of the software maker’s stock worth $14,267,000 after buying an additional 193,657 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Luxoft by 11.7% during the first quarter. Dimensional Fund Advisors LP now owns 329,167 shares of the software maker’s stock worth $13,479,000 after buying an additional 34,450 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Luxoft by 665.6% during the first quarter. Quantbot Technologies LP now owns 10,450 shares of the software maker’s stock worth $427,000 after buying an additional 9,085 shares in the last quarter. Finally, Lee Capital Management LP bought a new stake in Luxoft during the first quarter worth approximately $1,589,000. Institutional investors and hedge funds own 54.76% of the company’s stock.
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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