For the third quarter of 2026, analysts expect EPAM Systems to report revenue of $1.42 billion and non-GAAP EPS of $3.41, with the current stock price of $138.17 trading above the average analyst price target of $128.71.
Investors are primarily focused on the company’s organic constant currency revenue growth and the trajectory of its newly prioritized AI-driven consulting segment.
The stock recently fell 5% following signals of a cautious revenue outlook, reigniting concerns about softening demand in core software engineering services. Management is betting on its "AI-Native" transition and the integration of the NEORIS acquisition to drive premium value and counteract sector-wide pricing pressures.