EPAM Systems (NYSE:EPAM) Updates Q3 Earnings Guidance

EPAM Systems (NYSE:EPAM) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.65-$2.73 for the period, compared to the consensus earnings per share estimate of $2.69. The company issued revenue guidance of $1.145-$1.55 billion, compared to the consensus revenue estimate of $1.16 billion. EPAM Systems also updated its FY 2024 guidance to 10.200-10.400 EPS.

EPAM Systems Stock Up 1.1 %

EPAM traded up $2.05 during trading hours on Friday, hitting $193.21. 801,406 shares of the company’s stock were exchanged, compared to its average volume of 638,592. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a 50 day moving average of $191.62 and a 200 day moving average of $236.95. The firm has a market cap of $11.20 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 4.97 and a beta of 1.45. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.09. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Analysts predict that EPAM Systems will post 7.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EPAM has been the topic of several recent research reports. Piper Sandler cut their target price on shares of EPAM Systems from $230.00 to $225.00 and set an overweight rating on the stock in a research note on Thursday. Jefferies Financial Group raised shares of EPAM Systems from a hold rating to a buy rating and upped their target price for the stock from $202.00 to $237.00 in a research note on Tuesday, July 16th. Susquehanna dropped their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a positive rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of EPAM Systems from $331.00 to $311.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a research report on Monday, June 24th. They issued a neutral rating and a $200.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $263.33.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.