In a report released today, Arvind Ramnani from Piper Sandler maintained a Buy rating on Epam Systems (EPAM), with a price target of $517.00. The company’s shares closed last Friday at $460.30, close to its 52-week high of $462.83.
According to TipRanks.com, Ramnani is a 4-star analyst with an average return of 14.4% and a 67.6% success rate. Ramnani covers the Technology sector, focusing on stocks such as Upstart Holdings, Q2 Holdings, and Globant SA.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Epam Systems with a $490.55 average price target, implying a 5.5% upside from current levels. In a report issued on May 4, Morgan Stanley also maintained a Buy rating on the stock with a $467.00 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 $723 million and net profit of $85.54 million. In comparison, last year the company earned revenue of $633 million and had a net profit of $74.52 million.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EPAM in relation to earlier this year.
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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.
