Luxoft (LXFT) Rating Lowered to Hold at Pivotal Research

Pivotal Research downgraded shares of Luxoft (NYSE:LXFT) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat reports. Pivotal Research currently has $48.00 price objective on the software maker’s stock.

Several other research firms have also recently weighed in on LXFT. Zacks Investment Research cut shares of Luxoft from a buy rating to a hold rating in a research note on Thursday, January 18th. Cantor Fitzgerald raised shares of Luxoft from a neutral rating to an overweight rating and set a $65.00 target price for the company in a research note on Wednesday, January 17th. UBS Group raised their target price on shares of Luxoft from $51.00 to $55.00 and gave the company a neutral rating in a research note on Monday, November 20th. KeyCorp raised shares of Luxoft from a sector weight rating to an overweight rating in a research note on Tuesday, December 5th. Finally, BidaskClub raised shares of Luxoft from a sell rating to a hold rating in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $59.00.

Luxoft (NYSE:LXFT) opened at $45.53 on Wednesday. Luxoft has a 52 week low of $40.15 and a 52 week high of $67.85. The firm has a market cap of $1,796.05, a price-to-earnings ratio of 27.69 and a beta of 1.42.

Luxoft (NYSE:LXFT) last released its earnings results on Thursday, November 16th. The software maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.13. Luxoft had a net margin of 6.72% and a return on equity of 17.81%. The business had revenue of $228.03 million during the quarter, compared to analysts’ expectations of $227.09 million. equities analysts anticipate that Luxoft will post 2.18 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Luxoft by 157.7% during the fourth quarter. Millennium Management LLC now owns 211,321 shares of the software maker’s stock worth $11,771,000 after purchasing an additional 129,305 shares during the period. GCA Investment Management LLC acquired a new stake in shares of Luxoft during the fourth quarter worth $217,000. Two Sigma Investments LP lifted its holdings in shares of Luxoft by 1,633.8% during the fourth quarter. Two Sigma Investments LP now owns 135,828 shares of the software maker’s stock worth $7,566,000 after buying an additional 127,994 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Luxoft by 1,503.1% during the fourth quarter. Two Sigma Advisers LP now owns 142,162 shares of the software maker’s stock worth $7,918,000 after buying an additional 133,294 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Luxoft by 52.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 31,867 shares of the software maker’s stock worth $1,775,000 after buying an additional 11,001 shares in the last quarter. 52.23% of the stock is owned by hedge funds and other institutional investors.

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Luxoft Company Profile

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 (NYSE:LXFT)

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