EPAM Systems has had a turbulent period with a 68% decrease in share value over three years, despite gains in the more recent past. The company made significant strides through acquisitions like Odysseus and Vates which promise robust analytics and an expansion in Latin America respectively. Additionally, EPAM showcased interest in expanding its workforce rapidly in India, revealing emerging market potential. Despite mixed quarterly earnings, EPAM demonstrated a strong Q2 revenues and earnings beat. The company's commitment to AI innovation is indicated by its investment in CloudFrame's COBOL Transformation Platform and AI-driven profit. It also implemented initiatives, such as expanding its composable banking technology and joining hands with Google Cloud, aimed at reinforcing its technological capabilities. EPAM's performance garnered recognition as a 'Best Place to Work' and featured prominently as a top IT sourcing vendor in various regions. The firm also continues to grow in product development and maintain strong client relations.
However, challenges lie ahead with Deutsche Bank issuing a Hold rating due to EPAM's shifting delivery strategy and the legacy IT systems hindering digital transformation. EPAM's stock also underwent dramatic fluctuations, plunging and then rebounding. Such volatility coupled with a downbeat FY24 forecast could deter investors, despite the company's substantial market potential.
Epam Systems EPAM News Analytics from Thu, 02 Nov 2023 10:06:17 GMT to Sun, 25 Aug 2024 14:24:40 GMT -
Rating -2
- Innovation 7
- Information 4
- Rumor 1
