EPAM Systems (EPAM) has released its Q2 2024 earnings, exceeding analysts’ predictions with a 7.3% EPS beat and strong AI adoption. Despite this, the annual revenue outlook has been adjusted down slightly. Investment firms such as Gateway Investment Advisers and Tidal Investments have procured significant shares in EPAM, with GAMMA Investing reducing their position. Analysts maintain mixed views, with some downgrading stock position due to unknown influences, while others set a new price target of $240.00. The value of an investment made in EPAM a decade ago shows substantial growth. The company's stock surged by 28% as investors maintain a less pessimistic outlook than anticipated. EPAM confirmed significant investment in India and aims to double its workforce in 3-4 years. The company was recently recognized as a ‘Best Place to Work’ worldwide and received the 2024 Google Cloud Talent Development Partner of the Year Award in North America. Their work with CloudFrame's Intelligent COBOL Transformation Platform, commercetools, and their own OSPulse software, are all testaments to EPAM's commitment to innovation. A strong Q1 2024 performance was reported, however, the downward adjustment of the FY24 outlook resulted in a share plunge.
Epam Systems EPAM News Analytics from Thu, 02 Nov 2023 10:06:17 GMT to Sun, 11 Aug 2024 17:35:56 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor 2
