Luxoft Holding Inc (NYSE:LXFT) – KeyCorp reduced their Q4 2020 earnings estimates for shares of Luxoft in a note issued to investors on Wednesday, February 13th. KeyCorp analyst A. Ramnani now forecasts that the software maker will earn $0.59 per share for the quarter, down from their prior forecast of $0.60. KeyCorp currently has a “Overweight” rating and a $52.00 target price on the stock.
Luxoft (NYSE:LXFT) last posted its earnings results on Wednesday, February 13th. The software maker reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.15. The firm had revenue of $230.36 million for the quarter, compared to analyst estimates of $233.85 million. Luxoft had a return on equity of 12.50% and a net margin of 4.60%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share.
A number of other equities analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Luxoft from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. VTB Capital upgraded shares of Luxoft from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, November 16th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $52.00 target price on shares of Luxoft in a report on Thursday, November 15th. Zacks Investment Research raised shares of Luxoft from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Thursday, January 24th. Finally, Credit Suisse Group set a $38.00 target price on shares of Luxoft and gave the company a “hold” rating in a research note on Thursday, November 15th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Luxoft currently has a consensus rating of “Hold” and an average target price of $50.75.
Luxoft stock opened at $58.35 on Monday. Luxoft has a 1-year low of $29.73 and a 1-year high of $58.44. The company has a market capitalization of $1.96 billion, a P/E ratio of 27.92 and a beta of 2.40.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Luxoft by 29.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,533,917 shares of the software maker’s stock worth $77,082,000 after buying an additional 578,869 shares during the last quarter. FMR LLC grew its holdings in shares of Luxoft by 1.3% during the 3rd quarter. FMR LLC now owns 2,242,332 shares of the software maker’s stock worth $106,174,000 after purchasing an additional 28,998 shares during the period. Franklin Resources Inc. lifted its position in Luxoft by 140.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,392,572 shares of the software maker’s stock worth $65,938,000 after acquiring an additional 813,800 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Luxoft by 39.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 900,869 shares of the software maker’s stock worth $27,404,000 after acquiring an additional 253,619 shares in the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. acquired a new position in shares of Luxoft in the 3rd quarter valued at approximately $39,610,000. 57.07% of the stock is owned by hedge funds and other institutional investors.
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.