On August 8, EPAM Systems Inc rose 5.47% in regular trading, trading at $98.16/share, with turnover of $53.50 million. The stock is rebounding after a single-day plunge exceeding 20% on August 6 triggered by disappointing full-year revenue guidance.
On the earnings front, the company reported Q2 adjusted EPS of $3.38, beating the consensus estimate of $3.14 by approximately 7.6%. Revenue came in at $1.415 billion, up roughly 22% year-over-year, also surpassing expectations. Full-year adjusted EPS guidance of $13.08 to $13.24 was slightly above the FactSet consensus of $13.03. However, full-year revenue growth guidance of only 3.2% to 4.2% and below-consensus Q3 revenue guidance triggered the prior selloff. William Blair downgraded the stock to Market Perform, while Wedbush noted prolonged customer decision-making and continued weakness in North America.
The current rebound appears driven by oversold technical conditions combined with broader IT services sector strength, with peers Accenture up 2.25%, Gartner up 1.51%, and Cognizant up 1.46%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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