EPAM Systems (NYSE:EPAM) Releases Q4 2024 Earnings Guidance

EPAM Systems (NYSE:EPAM - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.700-2.780 for the period, compared to the consensus EPS estimate of 2.700. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. EPAM Systems also updated its FY 2024 guidance to 10.730-10.810 EPS.

EPAM Systems Stock Up 14.9 %

Shares of EPAM traded up $30.27 during midday trading on Thursday, reaching $232.96. 1,411,287 shares of the stock were exchanged, compared to its average volume of 620,100. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 4.16 and a beta of 1.46. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a 50 day simple moving average of $198.28 and a 200-day simple moving average of $198.37.

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

EPAM Systems announced that its Board of Directors has initiated a share buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup raised their target price on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a "hold" rating and a $204.00 target price for the company. Susquehanna reduced their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, August 9th. Finally, Jefferies Financial Group raised their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $256.63.

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.