Kerrisdale Capital Releases Report on Luxoft (NYSE:LXFT) and Announces Conference Call Schedule
Premier Software Developer Trades at an Attractive Price
-- Luxoft is a highly differentiated IT services provider that focuses on providing high-end software development through exceptionally skilled engineers based in Central and Eastern Europe
-- Luxoft has sold off in 2016 due to concerns around Deutsche Bank, its largest customer, exacerbated by Brexit and overall weakness of the European financial sector
-- Concerns around customer concentration are overdone, as Luxoft is rapidly expanding beyond its top five clients in the financial services sector. Revenue excluding the top five accounts grew at 56% in FY 2016 and continues to track at a rapid pace
-- Luxoft trades at 18x FY2016 earnings, a significant discount to industry peers and similar high-growth businesses
NEW YORK, Oct. 4, 2016 /PRNewswire/ -- Kerrisdale Capital, a private investment firm, has released a report on Luxoft (NYSE: LXFT), a $1.7 billion high-end software development company headquartered in Switzerland with leading programming talent in the Central and Eastern European Region. While Luxoft's stock experienced weakness this year, Kerrisdale believes that the low stock price will prove temporary as Luxoft management continues to diversify its customers and grow its employee base.
The full report can be found at http://kerr.co/lxft.
Kerrisdale has a long position in Luxoft and stands to benefit if its share price increases.
Conference Call Schedule
Kerrisdale will host a conference call on Tuesday, October 4, 2016 at 11:00am EDT to discuss the Luxoft report.
To participate in the conference call, dial 888-567-1602 (US and Canada) or 862-255-5346 (international) and reference the Kerrisdale Capital call.
A replay will be available following the call at http://kerr.co/lxft-oct4.
About Kerrisdale Capital
Kerrisdale Capital Management, LLC, is a fundamentally-oriented investment manager that focuses on long-term value investments and event-driven special situations.
Contact
Agnes Cao
Kerrisdale Capital
[email protected]
212-792-4385
Kerrisdale Capital Management, LLC is a member of the Financial Industry Regulatory Authority, CRD number 160804.
SOURCE Kerrisdale Capital Management, LLC
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