Luxoft Holding (LXFT) Gets a Buy Rating from Cantor Fitzgerald


In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Luxoft Holding (NYSE: LXFT), with a price target of $44. The company’s shares opened today at $39.50.

Foresi said:

“We maintain our Overweight rating on LXFT and our 12- month PT of $44*. Luxoft reported 1QFY19 top-line results in line with Street expectations, but issued 2QFY19 revenue guidance below consensus. Adjusted EPS came in above consensus and 2QFY19 EPS guidance was issued in line with expectations. The largest two accounts still face uncertainty, but Financial Services revenues outside of these accounts and Auto grew by about 25%. The call focused on the outlook and performance for the largest clients, timing of the turnaround in the Digital vertical and 2QFY19 projections.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 19.6% and a 83.8% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.

Luxoft Holding has an analyst consensus of Moderate Buy, with a price target consensus of $43.67.

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The company has a one-year high of $59.05 and a one-year low of $31.50. Currently, Luxoft Holding has an average volume of 338.6K.

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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.

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