Cowen \u0026 Co. Issues a Downgrade for Luxoft Holding (NYSE:LXFT) from a “Outperform” to “Market Perform” Rating

February 15, 2018 - By Vivian Park

 Cowen \u0026 Co. Issues a Downgrade for Luxoft Holding (NYSE:LXFT) from a

Luxoft Holding (NYSE:LXFT) Receives a Downgrade

In an analyst note revealed to clients on Wednesday morning, expert analysts at Cowen \u0026 Co.’s equities division downgraded the rating for Luxoft Holding (NYSE:LXFT) shares from the previous “Outperform” to a “Market Perform”.

Luxoft Holding, Inc. (NYSE:LXFT) Ratings Coverage

Among 12 analysts covering Luxoft Holding (NYSE:LXFT), 8 have Buy rating, 1 Sell and 3 Hold. Therefore 67% are positive. Luxoft Holding has $85 highest and $43.0 lowest target. $61.33’s average target is 42.63% above currents $43 stock price. Luxoft Holding had 37 analyst reports since July 28, 2015 according to SRatingsIntel. KeyBanc Capital Markets maintained the shares of LXFT in report on Thursday, February 15 with “Buy” rating. Cowen & Co initiated Luxoft Holding, Inc. (NYSE:LXFT) on Friday, February 19 with “Market Perform” rating. The stock has “Buy” rating by Cowen & Co on Friday, July 28. As per Friday, August 11, the company rating was maintained by Cowen & Co. The rating was initiated by Berenberg with “Buy” on Friday, June 10. The firm earned “Outperform” rating on Friday, January 6 by Wedbush. Credit Suisse downgraded the shares of LXFT in report on Thursday, September 7 to “Sell” rating. The rating was initiated by Wedbush with “Neutral” on Friday, September 9. The firm earned “Buy” rating on Tuesday, June 28 by Monness Crespi. Cowen & Co maintained it with “Buy” rating and $63.0 target in Thursday, October 12 report.

The stock decreased 7.03% or $3.25 during the last trading session, reaching $43. About 527,348 shares traded or 89.37% up from the average. Luxoft Holding, Inc. (NYSE:LXFT) has risen 10.58% since February 15, 2017 and is uptrending. It has underperformed by 6.12% the S&P500.

Luxoft Holding, Inc., together with its subsidiaries, provides software development services and IT solutions to multinational firms primarily in Europe and the United States. The company has market cap of $1.44 billion. It offers application software development, software architecture design, performance engineering, optimization and testing, process consulting, and software quality assurance services; functional specification and mock-up, product design, engineering, automated testing, maintenance, support, and performance engineering services; and IT strategy, software engineering process, and data security consulting services. It has a 24.99 P/E ratio. The companyÂ’s products and platforms include Teora, a suite of developer tools designed to enable automotive human machine interface developers build the logic of their user interface; Populus, a tool chain for HMI design and development, and the deployment of automotive user interfaces for distributed embedded systems; and AllView, a user-experience demonstrator that links instrument cluster, head unit, head-up display, and mobile devices.

More notable recent Luxoft Holding, Inc. (NYSE:LXFT) news were published by: Seekingalpha.com which released: “Luxoft’s (LXFT) CEO Dmitry Loschinin on Q3 2018 Results – Earnings Call Transcript” on February 14, 2018, also Benzinga.com with their article: “Luxoft’s Uncertainty Will Continue; Cowen Downgrades” published on February 14, 2018, Businesswire.com published: “Luxoft to Exhibit its Entire Range of Automotive Technology Services at …” on February 09, 2018. More interesting news about Luxoft Holding, Inc. (NYSE:LXFT) were released by: Businesswire.com and their article: “Luxoft Holding, Inc Reports Results for Third Quarter FY2018” published on February 13, 2018 as well as Nasdaq.com‘s news article titled: “Luxoft Holding Breaks Below 200-Day Moving Average – Notable for LXFT” with publication date: February 02, 2018.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.