Luxoft Holding, Inc. (LXFT) Upgraded to Outperform by Wedbush

Wedbush upgraded shares of Luxoft Holding, Inc. (NYSE:LXFT) from a neutral rating to an outperform rating in a research note issued to investors on Friday morning. Wedbush currently has $67.00 price target on the stock, up from their previous price target of $62.00.

Several other analysts have also weighed in on LXFT. Zacks Investment Research upgraded shares of Luxoft Holding from a sell rating to a hold rating in a research note on Tuesday, September 13th. Pacific Crest reissued a hold rating on shares of Luxoft Holding in a report on Wednesday, November 9th. J P Morgan Chase & Co reissued a buy rating and set a $80.00 price target on shares of Luxoft Holding in a report on Friday, November 11th. Finally, Cowen and Company raised shares of Luxoft Holding from a market perform rating to an outperform rating and set a $65.00 price target for the company in a report on Monday, December 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Luxoft Holding currently has a consensus rating of Hold and an average target price of $68.42.

Luxoft Holding (NYSE:LXFT) traded down 0.66% during mid-day trading on Friday, hitting $59.95. 206,461 shares of the stock traded hands. The stock has a 50-day moving average of $54.96 and a 200 day moving average of $53.57. Luxoft Holding has a 1-year low of $46.58 and a 1-year high of $77.28. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 32.39 and a beta of 1.52.

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A number of hedge funds have recently bought and sold shares of LXFT. Wasatch Advisors Inc. increased its stake in Luxoft Holding by 11.0% in the third quarter. Wasatch Advisors Inc. now owns 1,750,597 shares of the company’s stock valued at $92,519,000 after buying an additional 172,807 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its stake in Luxoft Holding by 3.2% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 68,065 shares of the company’s stock valued at $3,597,000 after buying an additional 2,094 shares during the last quarter. Hartwell J M Limited Partnership increased its stake in Luxoft Holding by 0.4% in the third quarter. Hartwell J M Limited Partnership now owns 385,420 shares of the company’s stock valued at $20,369,000 after buying an additional 1,600 shares during the last quarter. BlackRock Advisors LLC increased its stake in Luxoft Holding by 8.1% in the second quarter. BlackRock Advisors LLC now owns 176,445 shares of the company’s stock valued at $9,179,000 after buying an additional 13,199 shares during the last quarter. Finally, Alpine Partners VI LLC bought a new stake in Luxoft Holding during the second quarter valued at about $721,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.

About Luxoft Holding

Luxoft Holding, Inc is a provider of software development services and information technology solutions to a client base consisting of multinational corporations. The Company’s software development services consist of custom software development and support, product engineering and testing, and technology consulting.

5 Day Chart for NYSE:LXFT

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