NEW YORK (TheStreet) -- EPAM Systems (EPAM) shares are up 6.2% to $32.74 in trading on Friday.
The jump follows the company's announcement that it expects its first quarter 2014 earnings results to be ahead of the high end of their guidance for the quarter.
The global IT service provider is set to release its earnings report on April 30.
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"Due to the consistent level of clients' demands, we increased our delivery headcount in the country (Ukraine) by over 5% during the first three months of this year and we anticipate our Q1 results to be above the high end of our guidance for that period. We will provide a detailed update during our Q1 earnings call," said CEO Arkadiy Dobkin.
TheStreet Ratings team rates EPAM SYSTEMS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate EPAM SYSTEMS INC (EPAM) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."