Guggenheim Cuts PT on EPAM Systems (EPAM) Amid Risks to Q2 Revenue Outlook

EPAM Systems, Inc. (NYSE:EPAM) is one of the top cheap stocks to buy with the biggest upside potential. EPAM Systems, Inc. (NYSE:EPAM) received a rating update from Guggenheim on May 4, with the firm cutting the price target on the stock to $200 from $225 and reiterating a Buy rating on the shares. Guggenheim told investors in a preview that it expects underlying business momentum to remain stable in fiscal Q1 as channel checks continue to suggest clients view the company as “a quality vendor to help realize tangible AI goals”. However, the firm also stated that risks to the fiscal Q2 revenue outlook amid a softer demand environment led the firm to lower its target.

Is EPAM Systems, Inc. (EPAM) the Most Oversold Large Cap Stock to Invest in Now?

EPAM Systems, Inc. (NYSE:EPAM) also received a rating update from Susquehanna the same day. The firm lowered the price target on the stock to $167 from $199, and maintained a Positive rating on the shares, updating its model after reports of choppy demand. Susquehanna lowered its estimates below consensus and expects the Street to cut towards them.

EPAM Systems, Inc. (NYSE:EPAM) provides digital engineering, cloud, and artificial intelligence-enabled transformation services, combining software engineering with business consulting, customer experience design, strategy, and technology innovation services in areas such as AI, cybersecurity, and cloud platforms. The company’s operations are divided into the North America and Europe geographical segments.

While we acknowledge the risk and potential of EPAM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EPAM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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