Brokers Offer Predictions for Luxoft Holding, Inc.’s Q2 2018 Earnings (LXFT)

Luxoft Holding, Inc. (NYSE:LXFT) – Analysts at KeyCorp cut their Q2 2018 earnings estimates for shares of Luxoft Holding in a research report issued on Sunday. KeyCorp analyst A. Ramnani now expects that the software maker will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.60. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Luxoft Holding’s Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.75 EPS and FY2019 earnings at $2.86 EPS.

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Several other research analysts also recently issued reports on the stock. Credit Suisse Group downgraded shares of Luxoft Holding from a “neutral” rating to an “underperform” rating in a report on Thursday, September 7th. Zacks Investment Research cut shares of Luxoft Holding from a “buy” rating to a “strong sell” rating in a research note on Wednesday, August 16th. BidaskClub cut shares of Luxoft Holding from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Cowen and Company reissued a “buy” rating and issued a $63.00 target price on shares of Luxoft Holding in a research note on Thursday, October 12th. Finally, Wedbush cut shares of Luxoft Holding from an “outperform” rating to a “neutral” rating and upped their target price for the company from $60.80 to $67.00 in a research note on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Luxoft Holding has an average rating of “Hold” and an average target price of $62.67.

Luxoft Holding (NYSE:LXFT) traded up $0.40 during trading hours on Tuesday, hitting $47.05. 441,800 shares of the stock traded hands, compared to its average volume of 204,352. Luxoft Holding has a one year low of $40.15 and a one year high of $67.85. The company has a market cap of $1,032.63, a P/E ratio of 22.32 and a beta of 1.45.

Several hedge funds have recently made changes to their positions in LXFT. NWQ Investment Management Company LLC lifted its position in shares of Luxoft Holding by 90.5% during the third quarter. NWQ Investment Management Company LLC now owns 603,218 shares of the software maker’s stock worth $28,834,000 after purchasing an additional 286,497 shares in the last quarter. Standard Life Investments LTD lifted its position in shares of Luxoft Holding by 153.9% during the second quarter. Standard Life Investments LTD now owns 330,669 shares of the software maker’s stock worth $20,114,000 after purchasing an additional 200,442 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Luxoft Holding 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 purchasing an additional 123,126 shares in the last quarter. FMR LLC lifted its position in shares of Luxoft Holding by 5.4% during the second quarter. FMR LLC now owns 2,058,143 shares of the software maker’s stock worth $125,239,000 after purchasing an additional 105,039 shares in the last quarter. Finally, Wasatch Advisors Inc. lifted its position in shares of Luxoft Holding by 5.3% during the second quarter. Wasatch Advisors Inc. now owns 1,645,647 shares of the software maker’s stock worth $100,138,000 after purchasing an additional 82,333 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

About Luxoft Holding

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.

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