Luxoft (LXFT) Rating Lowered to Market Perform at Cowen

Cowen cut shares of Luxoft (NYSE:LXFT) from an outperform rating to a market perform rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Cowen currently has $50.00 target price on the software maker’s stock, down from their previous target price of $63.00.

Several other brokerages have also recently weighed in on LXFT. JPMorgan Chase & Co. lowered their price objective on shares of Luxoft from $69.00 to $65.00 and set an overweight rating on the stock in a research note on Wednesday. Cantor Fitzgerald reiterated a hold rating and issued a $47.00 price objective on shares of Luxoft in a research note on Friday, November 17th. Zacks Investment Research cut shares of Luxoft from a buy rating to a hold rating in a research note on Thursday, January 18th. BidaskClub upgraded shares of Luxoft from a sell rating to a hold rating in a research note on Wednesday, October 18th. Finally, KeyCorp reiterated a hold rating on shares of Luxoft in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $59.00.

Shares of Luxoft (LXFT) opened at $46.25 on Wednesday. The stock has a market cap of $1,796.05, a PE ratio of 27.69 and a beta of 1.42. Luxoft has a 1-year low of $40.15 and a 1-year high of $67.85.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in Luxoft by 182.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after acquiring an additional 2,215 shares during the period. GCA Investment Management LLC bought a new stake in Luxoft during the 4th quarter worth approximately $217,000. Trexquant Investment LP raised its stake in Luxoft by 64.4% during the 3rd quarter. Trexquant Investment LP now owns 5,663 shares of the software maker’s stock worth $271,000 after acquiring an additional 2,218 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Luxoft during the 2nd quarter worth approximately $344,000. Finally, Janney Capital Management LLC raised its stake in Luxoft by 75.4% during the 3rd quarter. Janney Capital Management LLC now owns 8,898 shares of the software maker’s stock worth $425,000 after acquiring an additional 3,825 shares during the period. Institutional investors own 52.23% of the company’s stock.

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About Luxoft

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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