EPAM Systems (NYSE:EPAM) Issues 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EPAM shares. Scotiabank lowered shares of EPAM Systems from a sector outperform rating to a sector perform rating and reduced their price objective for the stock from $300.00 to $245.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. decreased their price objective on EPAM Systems from $331.00 to $311.00 and set an overweight rating for the company in a report on Thursday, May 2nd. Jefferies Financial Group upgraded EPAM Systems from a hold rating to a buy rating and boosted their target price for the stock from $202.00 to $237.00 in a research note on Tuesday, July 16th. Piper Sandler decreased their price target on EPAM Systems from $230.00 to $225.00 and set an overweight rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group assumed coverage on EPAM Systems in a report on Monday, June 24th. They issued a neutral rating and a $200.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $263.33.

EPAM Systems Stock Performance

NYSE EPAM traded up $2.05 on Friday, reaching $193.21. 801,406 shares of the company’s stock traded hands, compared to its average volume of 638,592. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 4.97 and a beta of 1.45. The stock has a 50 day moving average price of $191.62 and a 200-day moving average price of $236.95.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. Equities research analysts predict that EPAM Systems will post 7.81 EPS for the current fiscal year.

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.