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LXFT

Luxoft

08:43
08/11/17
08/11
08:43
08/11/17
08:43

Luxoft reports Q1 EPS 50c, consensus 75c

Reports Q1 revenue $209.2M, consensus $213.5M. "We posted a top line growth for the quarter below 20%, impacted by the expected deceleration in the top two accounts. Additional headwinds came from seasonal weakness, decision making slowdown in the financial services vertical, and softer growth within two large M&A-related customers, affected by their internal reorganizations. Despite of that, outside of the top two accounts the business posted a strong annual growth in excess of 55%. We are expanding offerings in Automotive, Healthcare and Digital Enterprise, where we see demand for high complexity digital innovation and cloud deployments, which is a part of our current backlog," said Luxoft CEO and President Dmitry Loschinin.

  • 11

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LXFT Luxoft

06/16/17
COWN
06/16/17
NO CHANGE
Target $68
COWN
Outperform
Luxoft client concentration reduction should drive growth recovery, says Cowen
Cowen analyst Avishai Kantor said Luxoft will be de-risking their client concentration by March 2018, which should drive an organic growth recovery and multiple expansion. Kantor maintained his Outperform rating and $68 price target on Luxoft shares.
08/11/17
WEDB
08/11/17
DOWNGRADE
WEDB
Neutral
Luxoft downgraded to Neutral from Outperform at Wedbush
08/11/17
WEDB
08/11/17
DOWNGRADE
WEDB
Neutral
Luxoft downgraded on weakness of multiple clients at Wedbush
As noted earlier, Wedbush downgraded Luxoft (LXFT) to Neutral from Outperform. As reasons for the downgrade, analyst Moshe Katri cited the deceleration in the spending of its top two clients, Deutsche Bank (DB) and UBS (UBS), and a "spending pause" by a number of its other clients which are undergoing M&A. Target to $50 from $67.
08/11/17
UBSW
08/11/17
NO CHANGE
Target $66
UBSW
Neutral
Luxoft Q4 results worse than expected, says UBS
UBS analyst Steven Milunovich said the Q4 results for Luxoft were worse than expected. He noted revenues were below consensus and gross margins fell. The company cited a slowdown in decision making in financial services and slow growth within two M&A related accounts. The company also lowered its guidance, leaving few positives in the quarter, according to Milunovich, who maintained his Neutral rating and $66 price target on Luxoft shares.

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