Luxoft Holding Inc (NYSE:LXFT) – Investment analysts at KeyCorp reduced their Q1 2019 earnings estimates for shares of Luxoft in a research report issued to clients and investors on Monday, May 21st, according to Zacks Investment Research. KeyCorp analyst A. Ramnani now expects that the software maker will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.60. KeyCorp currently has a “Overweight” rating and a $53.00 target price on the stock. KeyCorp also issued estimates for Luxoft’s Q2 2019 earnings at $0.62 EPS and Q4 2019 earnings at $0.61 EPS.
Several other analysts also recently issued reports on LXFT. ValuEngine downgraded Luxoft from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Credit Suisse Group raised Luxoft from an “underperform” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $35.00 in a research note on Friday, June 1st. Zacks Investment Research downgraded Luxoft from a “buy” rating to a “strong sell” rating in a research note on Friday, June 1st. Pivotal Research reissued a “hold” rating and issued a $35.00 price target (down previously from $48.00) on shares of Luxoft in a research note on Friday, May 25th. Finally, Berenberg Bank set a $55.00 price target on Luxoft and gave the company a “buy” rating in a research note on Friday, May 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.91.
Shares of LXFT traded up $0.15 during midday trading on Wednesday, hitting $36.40. The stock had a trading volume of 160,600 shares, compared to its average volume of 313,133. Luxoft has a twelve month low of $31.50 and a twelve month high of $65.30. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 17.42 and a beta of 1.61.
Luxoft (NYSE:LXFT) last posted its earnings results on Thursday, May 24th. The software maker reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). Luxoft had a return on equity of 16.33% and a net margin of 6.29%. The business had revenue of $232.90 million for the quarter, compared to the consensus estimate of $228.74 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in shares of Luxoft in the fourth quarter valued at about $529,000. Silver Capital Management LLC acquired a new stake in shares of Luxoft in the fourth quarter valued at about $1,199,000. GCA Investment Management LLC acquired a new stake in shares of Luxoft in the fourth quarter valued at about $217,000. Two Sigma Investments LP increased its position in shares of Luxoft by 1,633.8% in the fourth quarter. Two Sigma Investments LP now owns 135,828 shares of the software maker’s stock valued at $7,566,000 after acquiring an additional 127,994 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Luxoft by 100.8% during the third quarter. Dimensional Fund Advisors LP now owns 245,276 shares of the software maker’s stock worth $11,724,000 after buying an additional 123,126 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.
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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