On August 6, EPAM Systems Inc fell 5.34% in pre-market trading, trading at approximately $104.11/share, with turnover of $1.1436 million.

The decline came despite the company reporting Q2 results that exceeded consensus estimates. EPAM posted adjusted EPS of $3.38, beating the $3.14 estimate by 7.6%, while revenue of $1.415 billion topped the $1.407 billion forecast, representing approximately 22% year-over-year growth. For the full year, the company guided adjusted operating income at 15.5% to 16.0% of revenue.

However, the market appeared to demand more from forward guidance. Morgan Stanley had previously warned of weaker discretionary spending pressures among EPAM clients, particularly in Q2, amid ongoing macro uncertainty. Jefferies downgraded the stock to Hold in late May with a $110 price target, reflecting institutional caution on growth sustainability. Despite the recent OpenAI partnership announcement that lifted shares in late July, investors appear skeptical that current momentum can overcome broader IT services spending headwinds, triggering profit-taking following the earnings release.

(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.)