Luxoft (NYSE:LXFT) Coverage Initiated by Analysts at Pivotal Research

Investment analysts at Pivotal Research initiated coverage on shares of Luxoft (NYSE:LXFT) in a research report issued on Tuesday, December 5th, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $70.00 price target on the software maker’s stock. Pivotal Research’s price target points to a potential upside of 25.67% from the stock’s current price.

Several other analysts have also commented on the company. Wedbush lowered Luxoft from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $60.80 to $67.00 in a report on Friday, August 11th. UBS Group lifted their price objective on Luxoft from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. Zacks Investment Research raised Luxoft from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a report on Thursday, November 23rd. Credit Suisse Group lowered Luxoft from a “neutral” rating to an “underperform” rating in a report on Thursday, September 7th. Finally, BidaskClub raised Luxoft from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.75.

Luxoft (LXFT) remained flat at $$55.70 during mid-day trading on Tuesday. The company’s stock had a trading volume of 117,429 shares, compared to its average volume of 170,147. Luxoft has a fifty-two week low of $40.15 and a fifty-two week high of $67.85. The stock has a market cap of $1,876.92, a PE ratio of 33.35 and a beta of 1.48.

Large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its position in Luxoft by 9.1% during the second quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after purchasing an additional 168 shares during the period. Bank of America Corp DE raised its position in Luxoft by 305.1% during the first quarter. Bank of America Corp DE now owns 2,228 shares of the software maker’s stock valued at $139,000 after purchasing an additional 1,678 shares during the period. Pacad Investment Ltd. raised its position in Luxoft by 50.0% during the second quarter. Pacad Investment Ltd. now owns 3,300 shares of the software maker’s stock valued at $201,000 after purchasing an additional 1,100 shares during the period. Wells Fargo & Company MN raised its position in Luxoft by 182.0% during the second quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock valued at $209,000 after purchasing an additional 2,215 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Luxoft during the second quarter valued at approximately $210,000. Institutional investors own 51.01% of the company’s stock.

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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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