- Piper Sandler analyst Arvind Ramnani hosted EPAM Systems, Inc EPAM CFO Jason Peterson and Head of IR David Straube for investor meetings and came away incrementally more positively.
- In particular, EPAM traded at a discount due to the ongoing conflict.
- Ramnani believes it has the operational discipline to navigate near-term challenges and emerge a stronger EPAM in the medium/long term.
- EPAM reallocated resources from the Ukraine/Russia region and rapidly expanded its geographical footprint in the near term.
- Over the next 2-3 years, Ramnani saw EPAM as more diversified, with a prominent presence in India and LATAM positioning EPAM as a global Digital Services leader, enabling it to take on larger clients.
- On balance, cultural integration and its software-centric approach were risks that Ramnani monitored, which were essential attributes for EPAM to maintain its premium digital offering that helped define its growth trajectory.
- Ramnani maintained an Overweight rating with a price target of $403.
- Price Action: EPAM shares traded lower by 2.15% at $334.32 on the last check Wednesday.
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