.jpg "Luxoft Holding (NYSE: LXFT)")
Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Luxoft Holding (NYSE: LXFT) today and set a price target of $46. The company’s shares closed on Friday at $46.60.
Foresi observed:
“Our Overweight rating is based on an attractive risk/reward at current valuation levels when evaluating Luxoft’s growth rate relative to other Digital businesses. We believe the current multiple provides a positive risk/reward, with opportunities for multiple expansion likely to come from reduced client concentration, healthy growth outside core clients, margin expansion, and the auto business. We value LXFT in line with the group P/E, as we believe revenue growth will return to an above-industry average.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 22.8% and a 90.4% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Luxoft Holding with a $42 average price target.
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Luxoft Holding’s market cap is currently $1.58B and has a P/E ratio of 28.77. The company has a Price to Book ratio of 3.37.
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Luxoft Holding, Inc. engages in the provision of software development and information technology solutions. It operates through the following geographical segments: North America, Europe (excl. UK), United Kingdom, Russia, Asia-Pacific (APAC), and Other. The company was founded in March 2000 and is headquartered in Zug, Switzerland.
