Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Epam Systems Inc (EPAM) today and set a price target of $183. The company’s shares closed yesterday at $170.42, close to its 52-week high of $180.55.
Foresi commented:
“. We maintain our Overweight rating and $183 price target on EPAM.* EPAM reported steady 1Q19 results and maintained 2019 constant currency (cc) growth guidance of at least 23%, but raised EPS guidance. Financial Services vertical revenue growth was 9% y/y. We look to the call for performance of the largest client and financial services, sustainability of digital growth, and an update on the European demand environment.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 21.6% and a 86.0% success rate. Foresi covers the Technology sector, focusing on stocks such as International Business Machines Corporation, Jack Henry & Associates, and Fidelity National Info.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Epam Systems Inc with a $175.60 average price target, implying a 3.0% upside from current levels. In a report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $180 price target.
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Epam Systems Inc’s market cap is currently $9.22B and has a P/E ratio of 40.20. The company has a Price to Book ratio of 7.30.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock.
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EPAM Systems, Inc. engages in the provision of software product development and digital platform engineering services. The firm’s services include product research, customer experience design, and prototyping. It operates through the following segments: North America, Europe, and Russia.
