VTB Capital Upgrades Luxoft (LXFT) to “Buy”

Luxoft (NYSE:LXFT) was upgraded by equities researchers at VTB Capital from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $50.00 target price on the software maker’s stock. VTB Capital’s price objective would indicate a potential upside of 50.15% from the stock’s previous close.

Several other analysts also recently issued reports on LXFT. Credit Suisse Group set a $38.00 price target on Luxoft and gave the company a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded Luxoft from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. ValuEngine upgraded Luxoft from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. downgraded Luxoft from a “neutral” rating to an “underweight” rating in a research note on Thursday. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $52.00 price target on shares of Luxoft in a research note on Thursday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Luxoft has a consensus rating of “Hold” and a consensus target price of $49.50.

LXFT opened at $33.30 on Friday. The firm has a market capitalization of $1.32 billion, a P/E ratio of 15.93 and a beta of 1.73. Luxoft has a 1 year low of $31.50 and a 1 year high of $59.05.

Luxoft (NYSE:LXFT) last released its quarterly earnings results on Thursday, November 15th. The software maker reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.07. The business had revenue of $228.41 million during the quarter, compared to the consensus estimate of $229.42 million. Luxoft had a return on equity of 15.44% and a net margin of 6.09%. On average, equities analysts predict that Luxoft will post 1.79 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in LXFT. Massachusetts Financial Services Co. MA bought a new stake in shares of Luxoft during the 2nd quarter valued at $39,465,000. Nan Shan Life Insurance Co. Ltd. bought a new stake in shares of Luxoft during the 3rd quarter valued at $39,610,000. Franklin Resources Inc. lifted its position in shares of Luxoft by 140.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,392,572 shares of the software maker’s stock valued at $65,938,000 after acquiring an additional 813,800 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Luxoft during the 3rd quarter valued at $30,647,000. Finally, Barings LLC lifted its position in shares of Luxoft by 51.3% during the 3rd quarter. Barings LLC now owns 533,018 shares of the software maker’s stock valued at $25,238,000 after acquiring an additional 180,650 shares during the period. Hedge funds and other institutional investors own 56.12% of the company’s stock.

About Luxoft

Luxoft Holding, Inc, together with its subsidiaries, provides software development services and IT solutions to multinational corporations. The company 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.

Featured Story: Cost of Debt

Analyst Recommendations for Luxoft (NYSE:LXFT)

Receive News & Ratings for Luxoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luxoft and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply