Needham Says Epam Systems (EPAM) is Positioned to Grow

Needham & Company reiterate a Buy rating and price target of $75.00 on EPAM Systems (NYSE: EPAM), following investor meetings. Analyst Mayank Tandon says that EPAM is positioned to continue to grow faster than the market.

Tandon Commented on the meeting, saying, "We hosted EPAM's CEO, Arkadiy Dobkin, for investor meetings yesterday in the Mid-Atlantic region and came away confident that EPAM's strong custom development capabilities and focus on emerging technologies positions it to continue to gain share and grow faster than the IT services market. With a robust demand backdrop and deal pipeline going into the seasonally stronger quarters, we believe there could be upside to our and Street estimates. We continue to see EPAM as a 20-25% organic revenue grower with a stable operating margin profile LT. We reiterate our BUY rating with a $75 price target."

For an analyst ratings summary and ratings history on EPAM Systems click here. For more ratings news on EPAM Systems click here.

Shares of EPAM Systems closed at $65.76 yesterday.

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