Luxoft Holding Inc (LXFT) is Downgraded by UBS to Neutral, Lowers Price Target to $ 53

Luxoft Holding Inc (LXFT) was Downgraded by UBS to ” Neutral” while Lowering the Price Target of the company shares to $ 53 from a previous price target of $63 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Aug 16, 2016.

Many Wall Street Analysts have commented on Luxoft Holding Inc. Luxoft Holding Inc was Initiated by Pacific Crest to “Sector Weight” on Jul 12, 2016. Shares were Reiterated by Monness Crespi & Hardt on Jun 28, 2016 to “Buy” and Lowered the Price Target to $ 78 from a previous price target of $84 .Berenberg Initiated Luxoft Holding Inc on Jun 10, 2016 to “Buy”, Price Target of the shares are set at $85.

On the company’s financial health, Luxoft Holding Inc reported $0.62 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 11, 2016. Analyst had a consensus of $0.63. The company had revenue of $178.05 million for the quarter, compared to analysts expectations of $177.47 million. The company’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Luxoft Holding Inc closed down -1.35 points or -2.51% at $52.41 with 5,10,530 shares getting traded on Monday. Post opening the session at $53.42, the shares hit an intraday low of $50.87 and an intraday high of $53.42 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Luxoft Holding Inc. is a provider of software development services and information technology (IT) solutions. The Company’s software development services consist of custom software development and support product engineering and testing and technology consulting. The Company’s services ranges from handling standard outsourcing client-directed engagements to managed delivery and transformational engagements. The Company’s products include Horizon SuperCloud Twister and iStockTrack. The Company focuses on six industry verticals: financial services automotive and transport telecommunications (telecom) travel and aviation technology and energy. The Company serves multinational corporations primarily in Western Europe and North America that rely on its IT solutions and software development capabilities for many of their mission critical systems.

Luxoft Holding Inc

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