EPAM Systems (NYSE:EPAM) Releases 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 (EPS) guidance of 10.730-10.810 for the period, compared to the consensus estimate of 10.290. The company issued revenue guidance of $4.7 billion-$4.7 billion, compared to the consensus revenue estimate of $4.6 billion. EPAM Systems also updated its Q4 2024 guidance to 2.700-2.780 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EPAM shares. JPMorgan Chase & Co. increased their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Finally, Barclays increased their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.89.

EPAM Systems Stock Up 5.4 %

NYSE EPAM opened at $202.69 on Thursday. The business’s 50-day moving average is $197.65 and its 200 day moving average is $198.13. The stock has a market capitalization of $11.54 billion, a PE ratio of 29.04, a PEG ratio of 4.16 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $2.21 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts forecast that EPAM Systems will post 8.08 earnings per share for the current year.

EPAM Systems announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.