Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Luxoft Holding (LXFT) today and set a price target of $52. The company’s shares closed yesterday at $38.75.
Foresi said:
“We maintain our Overweight rating on LXFT and our 12-month PT of $52*. Luxoft reported 2QFY19 top-line results above Street expectations, but issued 3QFY19 guidance was below consensus. Adjusted EPS came in above consensus. The largest two accounts still face uncertainty, but Financial Services revenues outside of these accounts grew 16% and Auto grew by about 23%. We look to the earnings call to provide color/update on the outlook and performance for the largest clients, utilization and margin expectations, and full-year FY19 updates.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.2% and a 73.1% 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 $50.67, representing a 30.8% upside. In a report issued on November 13, KeyBanc also maintained a Buy rating on the stock with a $52 price target.
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Luxoft Holding’s market cap is currently $1.32B and has a P/E ratio of 23.92. The company has a Price to Book ratio of 2.80.
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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.
