Pacific Crest Initiates Coverage on Luxoft Holding Inc to Sector Weight

Pacific Crest Initiates Coverage on Luxoft Holding Inc(NYSE:LXFT). The shares have been rated Sector Weight. The rating by Pacific Crest was issued on Jul 12, 2016.

Luxoft Holding Inc (LXFT) remained unchanged at the close of Friday session. Even as the volume increased to 2,57,407 ,the shares failed to make any impression and ended at 0 points or 0.00% at $53. The trading session commenced at $52.9 and the stock hit a high of $53.43 and touched $52.595 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $80.64 and the 52-week low is $46.58. The company has a market cap of $1,759 M and has approximately 3,31,88,894 outstanding shares.

Luxoft Holding Inc(LXFT) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $169.21M. Analysts had an estimated revenue of $165.33M. Earnings per share were $0.56. Analysts had estimated an EPS of $0.47.

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.

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