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

EPAM Systems (NYSE:EPAM - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.730-10.810 for the period, compared to the consensus EPS 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 FY24 guidance to $10.73-10.81 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a report on Thursday, August 22nd. They set a "hold" rating and a $204.00 price target on the stock. Susquehanna decreased their price objective on EPAM Systems from $260.00 to $240.00 and set a "positive" rating for the company in a report on Friday, August 9th. Itau BBA Securities raised EPAM Systems from an "underperform" rating to a "market perform" rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, EPAM Systems currently has an average rating of "Hold" and a consensus target price of $256.63.

EPAM Systems Price Performance

Shares of EPAM traded up $30.27 during trading hours on Thursday, hitting $232.96. 1,411,287 shares of the company were exchanged, compared to its average volume of 620,100. The firm has a fifty day simple moving average of $198.28 and a 200-day simple moving average of $198.37. The company has a market capitalization of $13.26 billion, a PE ratio of 33.38, 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 one year low of $169.43 and a one year high of $317.50.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. As a group, sell-side analysts predict that EPAM Systems will post 8.08 earnings per share for the current year.

EPAM Systems announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

About EPAM Systems

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.