EPAM Systems Downgraded by Multiple Analysts amid Weak Demand and Financial Outlook Cut
Portfolio Pulse from Anusuya Lahiri
EPAM Systems has been downgraded by multiple analysts after cutting its Q2 and FY23 financial outlook due to weak near-term demand. Analysts from Citigroup, Stifel, Barclays, Piper Sandler, and Keybanc have lowered their price targets for the company. Despite the downgrades, EPAM shares traded higher by 2.49% to $208.31.
June 06, 2023 | 6:54 pm
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EPAM Systems downgraded by multiple analysts and price targets lowered after cutting Q2 and FY23 financial outlook. Shares traded higher by 2.49% to $208.31.
EPAM Systems has been downgraded by multiple analysts after cutting its Q2 and FY23 financial outlook due to weak near-term demand. This news is directly related to the company and is important for investors. However, despite the downgrades, the stock price still traded higher, indicating a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100