Luxoft Holding, Inc. (LXFT) Updates FY18 Earnings Guidance

Luxoft Holding, Inc. (NYSE:LXFT) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.35. The company issued revenue guidance of $920 million, compared to the consensus revenue estimate of $949.03 million.

Shares of Luxoft Holding, Inc. (NYSE LXFT) opened at 45.70 on Friday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 24.84 and a beta of 1.46. Luxoft Holding, Inc. has a 52 week low of $40.15 and a 52 week high of $67.85. The stock has a 50 day moving average of $61.42 and a 200-day moving average of $61.13.

Luxoft Holding (NYSE:LXFT) last posted its quarterly earnings data on Monday, May 22nd. The software maker reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Luxoft Holding had a net margin of 7.97% and a return on equity of 21.06%. The company had revenue of $204.10 million for the quarter, compared to analyst estimates of $202.30 million. During the same quarter last year, the company earned $0.56 EPS. The business’s revenue was up 20.6% compared to the same quarter last year. On average, analysts anticipate that Luxoft Holding, Inc. will post $3.39 EPS for the current year.

Several equities research analysts have commented on LXFT shares. BidaskClub lowered Luxoft Holding from a hold rating to a sell rating in a research report on Saturday, August 5th. Zacks Investment Research lowered Luxoft Holding from a hold rating to a sell rating in a research report on Friday, May 26th. Cowen and Company set a $68.00 target price on Luxoft Holding and gave the company a buy rating in a research report on Friday, June 16th. Cantor Fitzgerald reiterated a hold rating and set a $55.00 target price on shares of Luxoft Holding in a research report on Tuesday, May 23rd. Finally, Wedbush lowered Luxoft Holding from an outperform rating to a neutral rating and increased their target price for the company from $60.80 to $67.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Luxoft Holding presently has a consensus rating of Hold and an average price target of $65.00.

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A hedge fund recently raised its stake in Luxoft Holding stock. Vanguard Group Inc. raised its position in Luxoft Holding, Inc. (NYSE:LXFT) by 104.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,824 shares of the software maker’s stock after buying an additional 4,000 shares during the period. Vanguard Group Inc.’s holdings in Luxoft Holding were worth $476,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 95.41% 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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