Cantor Fitzgerald upgraded shares of Luxoft (NYSE:LXFT) from a neutral rating to an overweight rating in a research report report published on Wednesday morning. Cantor Fitzgerald currently has $65.00 target price on the software maker’s stock.

Several other equities research analysts also recently weighed in on LXFT. Pivotal Research began coverage on Luxoft in a report on Tuesday, December 5th. They set a buy rating and a $70.00 price objective on the stock. Cowen reissued a buy rating and set a $63.00 price objective on shares of Luxoft in a report on Thursday, October 12th. BidaskClub raised Luxoft from a sell rating to a hold rating in a report on Wednesday, October 18th. KeyCorp reissued a hold rating on shares of Luxoft in a report on Thursday, September 28th. Finally, Zacks Investment Research raised Luxoft from a sell rating to a hold rating and set a $59.00 price objective on the stock in a report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $63.00.

Shares of Luxoft (NYSE:LXFT) traded up $0.95 during mid-day trading on Wednesday, hitting $57.45. The company’s stock had a trading volume of 202,126 shares, compared to its average volume of 220,697. The firm has a market cap of $1,930.00, a P/E ratio of 34.40 and a beta of 1.48. Luxoft has a 52-week low of $40.15 and a 52-week high of $67.85.

Luxoft (NYSE:LXFT) last issued its earnings results on Thursday, November 16th. The software maker reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.13. Luxoft had a return on equity of 17.81% and a net margin of 6.72%. equities analysts expect that Luxoft will post 2.18 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its holdings in shares of Luxoft by 9.1% during the 2nd quarter. D.A. Davidson & CO. now owns 2,019 shares of the software maker’s stock valued at $122,000 after acquiring an additional 168 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Luxoft by 182.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,432 shares of the software maker’s stock worth $209,000 after buying an additional 2,215 shares during the period. BT Investment Management Ltd acquired a new position in Luxoft during the 2nd quarter worth about $298,000. Dynamic Technology Lab Private Ltd acquired a new position in Luxoft during the 2nd quarter worth about $344,000. Finally, Trexquant Investment LP lifted its holdings in Luxoft by 64.4% during the 3rd quarter. Trexquant Investment LP now owns 5,663 shares of the software maker’s stock worth $271,000 after buying an additional 2,218 shares during the period. 52.34% of the stock is currently owned by institutional investors.

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About Luxoft

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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