Luxoft Holding Reports Financial Results

Paterniano Del Favero
Agosto 13, 2017

The brokerage now has a $63.00 price objective on the software maker's stock, down from their prior price objective of $68.00. UBS Asset Management Americas Inc. boosted its stake in shares of Luxoft Holding by 7.4% in the fourth quarter. Luxoft reported a non-GAAP diluted EPS $0.50 compared to year prior's $0.62, as well as a lower EBITDA of $26.4 million compared to $29.6 million last year. Finally, Norges Bank bought a new stake in shares of Luxoft Holding during the fourth quarter worth $10,023,000. Vanguard Group Inc. raised its position in Luxoft Holding, Inc. Clinton Group Inc. now owns 9,045 shares of the software maker's stock worth $566,000 after buying an additional 1,522 shares during the last quarter.

A hedge fund recently raised its stake in Luxoft Holding stock. Luxoft Holding had 24 analyst reports since July 28, 2015 according to SRatingsIntel.

Weaker-than-expected fiscal first-quarter earnings, as well as lowered full-year revenue guidance, have Luxoft trading in the red, last seen down 25.4% at $45.35 - the worst percentage loser on the New York Stock Exchange. The company had a trading volume of 4,234,812 shares. The company has a market cap of $1.53 billion, a P/E ratio of 28.60 and a beta of 1.46. The stock's 50 day moving average is $61.42 and its 200-day moving average is $61.13. The stock of Luxoft Holding Inc (NYSE:LXFT) has "Buy" rating given on Thursday, November 12 by UBS.

Luxoft Holding (NYSE:LXFT) last announced its earnings results on Monday, May 22nd. The software maker reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.51 by $0.05. The bright side however is that revenue had grown a considerable 17.5% to $209.2 million for the first quarter, but that has not helped as Luxoft's stock slid 35% before slightly regaining steam by midday.

A total of 10 equity analysts have released a report on Luxoft Holding. Parametric Portfolio Associates LLC now owns 58,910 shares of the software maker's stock worth $3,685,000 after buying an additional 20,396 shares during the last quarter. During the same quarter past year, the firm posted $0.56 EPS. The original version of this news story can be read at https://www.com-unik.info/2017/08/12/luxoft-holding-inc-lxft-updates-fy18-earnings-guidance.html.

LXFT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Luxoft Holding from a "hold" rating to a "sell" rating in a research note on Friday, May 26th. UBS AG restated a "neutral" rating and set a $66.00 price target (up previously from $63.00) on shares of Luxoft Holding in a research note on Thursday, May 25th. Cowen and Company set a $68.00 price objective on Luxoft Holding and gave the stock a "buy" rating in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. The "percentage off the 52-week high or low" refers to when a stock current price is relative to where it has traded over the last 52 weeks.

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.

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