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The latest analyst work on EPAM Systems reflects a reset in expectations, with price targets moving lower across both bullish and bearish research. Some analysts still point to a longer term growth story and keep Buy ratings, while others cite softer revenue guidance, weaker North American demand, and AI related pressure on traditional services as reasons for more cautious targets in the roughly US$85 to US$125 range. In the sections that follow, you will see how this evolving narrative may affect how you track EPAM Systems from here.

Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value EPAM Systems.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

• Stifel and TD Cowen still carry Buy ratings on EPAM Systems even after cutting price targets, which signals continued interest in the business model despite lower growth visibility.

• Needham trimmed its target to US$120 from US$135 but described EPAM Systems' Q2 report as solid, which suggests confidence in execution even as expectations are reset.

• Wells Fargo reduced its target to US$125 from US$151 and kept an Overweight rating, indicating that the firm still sees appeal in the stock at revised valuation levels.

🐻 Bearish Takeaways

• Jefferies and William Blair both moved to more cautious stances, citing a challenging IT services demand backdrop, slower AI deal ramp up, and pressure from AI led coding on traditional work.

• Deutsche Bank cut its target to US$85 from US$110 and Morgan Stanley, Citi, and Truist all lowered targets into the US$97 to US$110 band, which points to a cooler view on near term growth and valuation for EPAM Systems.

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See how EPAM Systems' fair value stacks up across multiple valuation models — not just analyst targets.

What's in the News

• EPAM Systems joined the OpenAI Partner Network as an OpenAI Advanced Partner to help global enterprises roll out safer, scalable AI solutions.

• The company plans to certify more than 5,000 consultants with over 10,000 credentials in the first year through an OpenAI focused training program for forward deployed engineers.

• EPAM Systems reported second quarter 2026 results that were better than expected, with continued AI native momentum, improving profitability, and ongoing share repurchases.

• The company raised full year 2026 guidance and now expects revenue growth of 3.2% to 4.2%, GAAP diluted EPS of US$8.22 to US$8.38, and GAAP income from operations of 10.5% to 11.0% of revenues.