Cantor Fitzgerald Releases a Hold Rating on Luxoft Holding

In a report released today, Joseph Foresi from Cantor Fitzgerald reiterated a Hold rating on Luxoft Holding (NYSE: LXFT), with a price target of $55. The company’s shares opened today at $59.25.

Foresi said:

“Foresi NTKs. Revenue growth from Luxoft’s top accounts remains a drag on the overall business with margins pointing to the lower end of the range. However, there is reason for optimism given the new opportunities presented among the HPA’s and areas like Auto & Telecom. Management reported optimism in Financial Services (FS) given the interest rate hikes, lower regulation, and FinTech exposure, although LXFT does not expect an impact to its FS regulation work.”

According to TipRanks.com, Foresi is a 4-star analyst with an average return of 5.0% and a 65.1% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Fidelity National Info, and Computer Sciences.

Luxoft Holding has an analyst consensus of Moderate Buy, with a price target consensus of $61.

The company has a one year high of $66.18 and a one year low of $46.58. Currently, Luxoft Holding has an average volume of 178K.

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Luxoft Holding, Inc. operates as a provider of software development services and information technology solutions to a global client base consisting of multinational corporations. The company’s services include software development and support, product engineering and testing, and technology consulting. It provides its services to six industry verticals: Financial services, Travel and aviation, Technology, Telecom, Automotive and transport and Energy. The company was founded in March 2000 and is headquartered in Zug, Switzerland.