Citigroup Cuts EPAM Systems (NYSE:EPAM) Price Target to $112.00

Key Points

• Citigroup lowered its price target on EPAM Systems from $145 to $112 and kept a neutral rating, implying only modest upside from the stock’s prior close.
• Several other analysts also cut targets recently, though the broader analyst view remains mixed: EPAM has eight Buy ratings and eight Hold ratings, with an average target of $162.50.
• EPAM’s latest earnings were solid, as the company beat Q1 EPS and revenue expectations and raised guidance, but investors appear focused on the trimmed growth outlook that has pressured the shares.

EPAM Systems (NYSE:EPAM - Get Free Report) had its price objective lowered by Citigroup from $145.00 to $112.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the information technology services provider's stock. Citigroup's price target suggests a potential upside of 12.74% from the company's previous close.

EPAM has been the subject of several other reports. JPMorgan Chase & Co. cut their price objective on EPAM Systems from $215.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Needham & Company LLC dropped their price target on EPAM Systems from $175.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday. Guggenheim dropped their price target on EPAM Systems from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Monday. Zacks Research lowered EPAM Systems from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 28th. Finally, TD Cowen dropped their price target on EPAM Systems from $220.00 to $213.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $162.50.

EPAM Systems Price Performance

NYSE:EPAM traded down $4.89 during trading hours on Friday, hitting $99.35. 1,835,842 shares of the stock were exchanged, compared to its average volume of 1,283,695. EPAM Systems has a 52-week low of $98.76 and a 52-week high of $222.53. The firm's fifty day moving average price is $131.21 and its 200 day moving average price is $168.98. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.21 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.04 and a beta of 1.45.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.75 by $0.11. EPAM Systems had a return on equity of 13.57% and a net margin of 6.92%.The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business earned $2.41 EPS. EPAM Systems's quarterly revenue was up 7.6% on a year-over-year basis. EPAM Systems has set its Q2 2026 guidance at 3.100-3.180 EPS. As a group, equities research analysts anticipate that EPAM Systems will post 9.94 EPS for the current fiscal year.

Institutional Investors Weigh In On EPAM Systems

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in EPAM Systems by 0.4% in the third quarter. Vanguard Group Inc. now owns 7,014,935 shares of the information technology services provider's stock worth $1,057,782,000 after acquiring an additional 29,763 shares during the period. Capital World Investors grew its position in EPAM Systems by 59.4% in the fourth quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider's stock worth $753,874,000 after acquiring an additional 1,371,557 shares during the period. Ameriprise Financial Inc. grew its position in EPAM Systems by 28.9% in the third quarter. Ameriprise Financial Inc. now owns 2,662,843 shares of the information technology services provider's stock worth $401,532,000 after acquiring an additional 596,760 shares during the period. Boston Partners purchased a new position in EPAM Systems in the fourth quarter worth approximately $349,428,000. Finally, Baillie Gifford & Co. grew its position in EPAM Systems by 20.7% in the third quarter. Baillie Gifford & Co. now owns 1,293,857 shares of the information technology services provider's stock worth $195,101,000 after acquiring an additional 221,544 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Key EPAM Systems News

Here are the key news stories impacting EPAM Systems this week:

• Positive Sentiment: EPAM beat Q1 earnings expectations, posting non-GAAP EPS of $2.86 versus $2.75 expected, with revenue of $1.40 billion slightly above estimates and up 7.6% year over year. EPAM Reports Results for First Quarter 2026
• Positive Sentiment: The company raised its annual profit forecast and guided Q2 EPS above consensus, signaling that demand for IT services remains healthy and helping support the investment case. Reuters article on EPAM annual profit forecast
• Positive Sentiment: EPAM also announced an applied AI partnership with Anthropic, which could strengthen its long-term growth story and improve sentiment around its technology services platform. Seeking Alpha article on applied AI partnership
• Neutral Sentiment: Several market recaps highlighted that revenue and EPS were in line with or above estimates, but the stock reaction suggests investors are weighing the stronger quarter against softer growth expectations. EPAM posts Q1 sales in line with estimates
• Negative Sentiment: Wells Fargo and Needham both cut their price targets on EPAM, and Guggenheim also lowered its target earlier this week, pointing to more caution around near-term upside even though ratings stayed positive. Benzinga analyst price target update
• Negative Sentiment: Management trimmed the 2026 growth outlook, which appears to be the main concern for investors and is likely contributing to the stock’s weakness despite the earnings beat. MSN article on trimmed growth outlook

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM's offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.

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