EPAM Systems (NYSE:EPAM) Updates FY 2024 Earnings Guidance

EPAM Systems (NYSE:EPAM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 10.200-10.400 for the period, compared to the consensus earnings per share estimate of 10.090. The company issued revenue guidance of $4.6 billion-$4.6 billion, compared to the consensus revenue estimate of $4.6 billion. EPAM Systems also updated its FY24 guidance to $10.20-$10.40 EPS.

EPAM Systems Stock Performance

EPAM traded up $2.05 during trading on Friday, hitting $193.21. 801,406 shares of the company traded hands, compared to its average volume of 638,592. 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 stock’s fifty day moving average is $191.62 and its 200 day moving average is $237.38. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. EPAM Systems has a one year low of $169.43 and a one year high of $317.50.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen cut their target price on shares of EPAM Systems from $282.00 to $203.00 and set a hold rating for the company in a research report on Friday, May 10th. Redburn Atlantic assumed coverage on shares of EPAM Systems in a research report on Friday, May 24th. They set a neutral rating and a $195.00 target price for the company. Morgan Stanley upgraded shares of EPAM Systems from an underweight rating to an equal weight rating and cut their target price for the stock from $236.00 to $225.00 in a research report on Friday, April 26th. Barclays increased their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. Finally, Mizuho cut their target price on shares of EPAM Systems from $345.00 to $258.00 and set a buy rating for the company in a research report on Tuesday, May 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has an average rating of Moderate Buy and an average 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.