Reading EPAM? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track EPAM free→Reading EPAM? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track EPAM free→NYSEInformation TechnologyInformation Technology ServicesSnapshot 2026-06-12
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and earnings quality is also neutral, indicating some uncertainty in cash flow backing reported profits. Management's recent track record has been fairly steady, and it has a capital-friendly stance. Risk is elevated, but the sector backdrop is a tailwind, with EPAM compared to sector peers being above typical. Peer multiples imply a price about 24% above where it trades (it looks cheap on this basis); the read is fair. Key factors to watch include guidance changes and sector trends, as these could significantly impact performance.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 8 valuation methods, at three horizons. Current price $95.38. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $95 EPAM trades at 8× p/e, below its 10× p/e peer median. Our $120 fair value sits above the price; high confidence. Analysts: $110–$235. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 21% below a flat-multiple fair value, below our forecast of about 9%. This describes what's priced in, not a forecast of the move.
Only weak execution quality, a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated neutral grew net income 54% of the time over the next year (vs 68% for the rest of the cohort, n=3704).
Over the trailing year it converted 1.54x of net income into operating cash flow. Historically, Information Technology names rated neutral grew net income 62% of the time over the next year (vs 58% for the rest of the cohort, n=2831).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $3.12 → $3.14 (+0.9% / 30d). 11 raised, 4 cut, 16 covering analysts.
0 upgrades, 1 downgrade / 30d, 0 maintained. 58% of analysts rate Buy.
1 PT revisions / 30d. Avg target 8.4% above current price.
0 positive, 0 negative / 30d.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$174.
How much price usually moves either way.
On a bad day, this stock has moved -$468.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $5,949.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: Earnings results will show if the company can recover after the recent earnings miss.
Confirms one read:Q2 earnings are better than expected. This shows signs of recovery.
Confirms the other:Q2 earnings fall short again. This shows ongoing challenges.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for EPAM yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition. On May 7, 2026, EPAM Systems, Inc. (the “Company” or “EPAM”) issued a press release and an infographic discussing its results of operations for the first quarter ended March 31, 2026. A copy of the press release and the infographic are attached as Exhibits 99.1 and 99.2, respectively, to this report and are incorporated by reference into this
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
$110.00 – $235.00 (median $147.00) · 10 analysts · as of 2026-05-29
Looks cheaper than most peers in the same business.
Cheaper than its own typical valuation.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus IT Consulting & Other Services.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
EPAM EPAM Systems | Above typical Show detailsSector percentile: 84 of 100 | fair | elevated |
IBM IBM | Typical Show detailsSector percentile: 32 of 100 | expensive | moderate |
ACN Accenture | Above typical Show detailsSector percentile: 98 of 100 | full | elevated |
CTSH Cognizant | Above typical Show detailsSector percentile: 90 of 100 | fair | elevated |
APLD APPLIED DIGITAL CORPORATION | Below typical Show detailsSector percentile: 19 of 100 | expensive | high |
3 material management or governance events in the past 24 months, led by executive changes. Historically, Information Technology names rated neutral grew net income 64% of the time over the next year (vs 57% for the rest of the cohort, n=1040).
Not investment advice. As of 2026-06-12.
via XLK
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-12.
Met or beat guidance 100% of the last 8 guided quarters · 44.2% avg surprise
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
EPAM aims to become a global leader in AI-native enterprise transformation services.
EPAM focuses on executing a clear strategy to drive its next phase of profitable growth.
EPAM is enhancing its internal and client-facing AI capabilities to capitalize on global AI transformation.
Why it matters: This would signal a slowdown in demand and could hurt investor confidence.
Confirms:Q2 revenue was below $1.400 billion. This shows growth of less than 4.0%.
Disproves:Q2 revenue meets or exceeds $1.415 billion, showing stronger demand.
Why it matters: Better cash flow shows more efficiency and stronger financial health.
Confirms:Cash flow from operations turns positive and exceeds $24 million in Q2.
Disproves:Cash flow from operations remains negative or below $36.4 million in Q2.
Why it matters: Missing EPS could show problems in operations. This may affect future plans.
Confirms:GAAP diluted EPS reported below $1.79 for Q2.
Disproves:GAAP diluted EPS meets or exceeds $1.87 for Q2.
Why it matters: Progress in AI is key for EPAM's growth and staying ahead of competitors.
Confirms:Management announces a new AI project or partnership. This will make skills better.
Disproves:No new updates on AI skills in the next quarterly report.
Stockholders approved amendments to the long-term incentive plan and employee stock purchase plan.
of this report under the share repurchase authorization approved by the Board in October 2025. A copy of the press release announcing the ASR Transaction is attached to this report as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or otherwise subject to the liabilities of that section, or incorporat…
of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise be subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, except as expressly stated by specific reference in such a filing.
Viktar Dvorkin: Compensatory arrangement of restricted stock units granted to retain an executive.