Bearish Chart Formation for Luxoft Holding, Inc. (LXFT) After Forming Multiple Bottom Chart Pattern

January 14, 2018 - By Vivian Currie

The stock of Luxoft Holding, Inc. (LXFT) shows a multiple bottoms pattern with $53.15 target or 7.00 % below today’s $57.15 share price. The 7 months chart pattern indicates high risk for the $1.91 billion company. It was reported on Jan, 14 by If the $53.15 price target is reached, the company will be worth $133.91 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.26% or $0.15 during the last trading session, reaching $57.15. About 218,368 shares traded. Luxoft Holding, Inc. (NYSE:LXFT) has risen 10.58% since January 14, 2017 and is uptrending. It has underperformed by 6.12% the S&P500.

Analysts await Luxoft Holding, Inc. (NYSE:LXFT) to report earnings on February, 13. They expect $0.61 earnings per share, down 8.96 % or $0.06 from last year’s $0.67 per share. LXFT’s profit will be $20.42 million for 23.42 P/E if the $0.61 EPS becomes a reality. After $0.66 actual earnings per share reported by Luxoft Holding, Inc. for the previous quarter, Wall Street now forecasts -7.58 % negative EPS growth.

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

Among 11 analysts covering Luxoft Holding (NYSE:LXFT), 7 have Buy rating, 1 Sell and 3 Hold. Therefore 64% are positive. Luxoft Holding has $85 highest and $43.0 lowest target. $64.18’s average target is 12.30% above currents $57.15 stock price. Luxoft Holding had 33 analyst reports since July 28, 2015 according to SRatingsIntel. UBS maintained it with “Buy” rating and $84 target in Thursday, November 12 report. Berenberg initiated Luxoft Holding, Inc. (NYSE:LXFT) on Friday, June 10 with “Buy” rating. The stock of Luxoft Holding, Inc. (NYSE:LXFT) has “Buy” rating given on Thursday, October 12 by Cowen & Co. Monness Crespi & Hardt maintained it with “Buy” rating and $81 target in Thursday, November 12 report. Wedbush downgraded Luxoft Holding, Inc. (NYSE:LXFT) on Friday, August 11 to “Hold” rating. Monness Crespi maintained Luxoft Holding, Inc. (NYSE:LXFT) on Tuesday, June 28 with “Buy” rating. On Friday, January 6 the stock rating was upgraded by Wedbush to “Outperform”. As per Wednesday, September 9, the company rating was initiated by Monness Crespi & Hardt. The stock of Luxoft Holding, Inc. (NYSE:LXFT) earned “Overweight” rating by KeyBanc Capital Markets on Tuesday, December 5. As per Monday, December 19, the company rating was upgraded by Cowen & Co.

Another recent and important Luxoft Holding, Inc. (NYSE:LXFT) news was published by which published an article titled: “Luxoft Showcasing Next Generation Technology Driving Automotive Innovation …” on December 21, 2017.

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