Just How Negative is Cowen \u0026 Co. Following Their Downgrade of Luxoft Holding (NYSE:LXFT)?

February 15, 2018 - By Maria Brooks

 Just How Negative is Cowen \u0026 Co. Following Their Downgrade of Luxoft Holding (NYSE:LXFT)?

Luxoft Holding (NYSE:LXFT) Receives a Downgrade

In analysts report revealed to clients on 14 February, Cowen \u0026 Co. has decided to downgraded rating on Luxoft Holding (NYSE:LXFT) shares to a “Market Perform”. LXFT’s prior rating was a “Outperform”.

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. The stock has “Buy” rating by Cowen & Co on Friday, July 28. The rating was maintained by KeyBanc Capital Markets with “Buy” on Thursday, February 15. KeyBanc Capital Markets maintained Luxoft Holding, Inc. (NYSE:LXFT) on Thursday, September 28 with “Hold” rating. The firm has “Outperform” rating given on Monday, December 19 by Cowen & Co. The stock has “Buy” rating by UBS on Friday, August 14. The rating was initiated by Berenberg on Friday, June 10 with “Buy”. Cantor Fitzgerald upgraded the stock to “Buy” rating in Wednesday, January 17 report. Wedbush downgraded Luxoft Holding, Inc. (NYSE:LXFT) rating on Friday, August 11. Wedbush has “Hold” rating and $5000 target. The firm earned “Buy” rating on Monday, January 4 by Monness Crespi & Hardt. Cowen & Co downgraded it to “Hold” rating and $50.0 target in Wednesday, February 14 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: Streetinsider.com which released: “Form SC 13G/A Luxoft Holding, Inc Filed by: MORGAN STANLEY” on February 12, 2018, also Seekingalpha.com with their article: “Luxoft’s (LXFT) CEO Dmitry Loschinin on Q3 2018 Results – Earnings Call Transcript” 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: Nasdaq.com and their article: “Luxoft Holding Breaks Below 200-Day Moving Average – Notable for LXFT” published on February 02, 2018 as well as Businesswire.com‘s news article titled: “Luxoft Holding, Inc Reports Results for Third Quarter FY2018” with publication date: February 13, 2018.

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