Epam Systems (EPAM) Received its Third Buy in a Row

After J.P. Morgan and Stifel Nicolaus gave Epam Systems (NYSE: EPAM) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Drew Kootman maintained a Buy rating on Epam Systems today and set a price target of $249.00. The company’s shares closed last Thursday at $227.01.

According to TipRanks.com, Kootman is a 2-star analyst with an average return of 1.0% and a 66.7% success rate. Kootman covers the Technology sector, focusing on stocks such as Zoom Video Communications, Fiverr International, and Slack Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Epam Systems with a $247.56 average price target, implying a 10.5% upside from current levels. In a report issued on April 27, Barclays also maintained a Buy rating on the stock with a $251.00 price target.

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Based on Epam Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $633 million and net profit of $74.52 million. In comparison, last year the company earned revenue of $505 million and had a net profit of $59.97 million.

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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. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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