EPAM Systems, Inc. (EPAM) earnings on August 6, 2026

EPAM price around the earnings

93.07

Change: -15.4%

End of the measured window

85.60 93.74 101.88 110.02 110.02

August 6, 2026

Price: green if it ends above the starting price; red if it ends below
End of the measured window
Market open
Starting price

Price series around the event

Prior thesis

Prior outlook: No statistical edge

Thesis published: 2026-08-06, 09:56 UTC
Results released: 2026-08-06, 10:01 UTC

Extreme trend strength and 100% beat rate, but recent analyst PT cuts and high retail interest create sell-the-news risk.

Context analyzed before publication

Trend: Strong run-up followed by a recent sell-off into earnings, with extreme trend strength and high retail interest.

Analysts

Evidence

Analyst consensus: Buy
Consensus average (1-5): 2
Analysts covering the stock: 17
Average price target: 133.94
Lowest price target: 83
Highest price target: 225
Upside to price target: 21.9%
Quarterly earnings growth: 12.3%
Revenue growth: 7.6%
Forward EPS: 14.13
Trailing EPS: 6.82
Analyst moves in the last 60 days: 5

Strong buy: 3
Buy: 8
Hold: 8
Sell: 0
Strong sell: 0

Strong buy: 3
Buy: 8
Hold: 8
Sell: 0
Strong sell: 0

August 4, 2026 · Morgan Stanley: Maintains rating (Equal-Weight → Equal-Weight)
July 27, 2026 · Citigroup: Maintains rating (Neutral → Neutral)
July 10, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
July 9, 2026 · TD Cowen: Maintains rating (Buy → Buy)
June 15, 2026 · Wedbush: Initiates coverage (Neutral)

News and sentiment

Evidence

Sentiment

Sentiment: Constructive
Mention volume: High
Normalized volume: 99%

News

Sources (5)

Morgan Stanley Maintains Equal-Weight on EPAM Systems, Lowers Price Target to $100 (opens in a new tab) — Benzinga
EPAM Systems Joins OpenAI Partner Network As OpenAI Advanced Partner (opens in a new tab) — Benzinga
Citigroup Maintains Neutral on EPAM Systems, Lowers Price Target to $100 (opens in a new tab) — Benzinga
Wells Fargo Maintains Overweight on EPAM Systems, Lowers Price Target to $125 (opens in a new tab) — Benzinga
TD Cowen Maintains Buy on EPAM Systems, Lowers Price Target to $131 (opens in a new tab) — Benzinga

Technicals

Evidence

Price when the context was analyzed: 110.02
Average true range (ATR): 4.9%
Distance to 52-week high: -50.4%
14-day change (14d): +27.4%
30-day change (30d): +26.6%
30-day relative strength: +24.1%
SPY change (30d): +2.5%
Nearest support: 108.8
Distance to nearest support: 1.1%
Nearest resistance: 110.21
Distance to nearest resistance: 0.2%
Volume accumulation ratio (14d / 46d): 0.95

Mid: 108.8 (1.1% away, 0.22 ATR, 13 touches)
Minor: 107.15 (2.6% away, 0.53 ATR, 3 touches)
Mid: 106.13 (3.5% away, 0.72 ATR, 6 touches)

Minor: 110.21 (0.2% away, 0.04 ATR, 2 touches)
Minor: 111.11 (1% away, 0.2 ATR, 4 touches)
Mid: 113.03 (2.7% away, 0.56 ATR, 7 touches)

Trends

Evidence

Average earnings surprise: +3.7%

May 7, 2026: actual EPS 2.86 vs estimate 2.75 (surprise +3.8%)
February 19, 2026: actual EPS 3.26 vs estimate 3.16 (surprise +3.2%)
November 6, 2025: actual EPS 3.08 vs estimate 3.03 (surprise +1.7%)
August 7, 2025: actual EPS 2.77 vs estimate 2.61 (surprise +6.0%)

Expected move

Implied move: +4.7%
Source: Options chain

Reactions over its last 20 earnings

Median move: 8.1%
75th percentile move: 12.6%
90th percentile move: 15.3%
Up / down moves: 11 / 9
Average up move: +7.9%
Average down move: -10.3%

Monitoring and close

What EPAM Systems, Inc. reported

Status: Finished

Actual EPS	3.38
EPS estimate	3.14
EPS surprise	+7.6%
Revenue	$1,415 million
Revenue estimate	$1,407 million
Revenue surprise	+0.6%

EPAM reports strong EPS growth and AI-driven trend strength, but cuts its annual outlook due to a faster shift away from task-based services. The pessimistic view persists.

Sources (12)

EPAM Systems Inc (EPAM) (Q2 2026) Earnings Call Highlights: AI-Native Revenue Surges Past ... (opens in a new tab) — GuruFocus.com
William Blair Downgrades EPAM Systems to Market Perform (opens in a new tab) — Benzinga
EPAM Systems (NYSE:EPAM) Slides on In-Line Revenue Despite Q2 EPS Beat (opens in a new tab) — ChartMill
Epam (EPAM) Q2 Earnings and Revenues Surpass Estimates (opens in a new tab) — Zacks
EPAM cuts annual revenue forecast on weak software services demand, shares fall (opens in a new tab) — Reuters
EPAM’s (NYSE:EPAM) Q2 CY2026 Sales Beat Estimates But Stock Drops (opens in a new tab) — StockStory
EPAM Systems Narrows FY2026 Adj EPS Guidance from $12.98-$13.28 to $13.08-$13.24 vs $13.04 Est; Lowers FY2026 Sales Guidance from $5.675B-$5.813B to $5.632B-$5.686B vs $5.724B Est (opens in a new tab) — Benzinga
EPAM Systems Sees Q3 GAAP EPS $2.33-$2.41 vs $2.40 Est (opens in a new tab) — Benzinga
EPAM Systems Sees Q3 Adj EPS $3.38-$3.46 vs $3.44 Est; Sees Sales $1.410B-$1.425B vs $1.445B Est (opens in a new tab) — Benzinga
EPAM beat expectations: adjusted earnings of $3.38 per share versus $3.14 estimated, and revenue of $1.415B versus $1.407B expected. — Benzinga
EPAM Sys Q2 Adj. EPS $3.38 Beats $3.14 Estimate, Sales $1.415B Beat $1.407B Estimate (opens in a new tab) — Benzinga
EPAM Systems Lowers FY2026 GAAP EPS Guidance from $8.29-$8.59 to $8.22-$8.38 vs $8.30 Est (opens in a new tab) — Benzinga

Pre-market second reading after the results

Verdict: Beat expectations

Heading into the open, results beat expectations on both earnings and revenue, and the price is indicating -15.8% pre-market, a move above the stock's usual reaction (about 8%). The figures don't confirm the prior scenario: there was no prior directional scenario to check against.

How the stock reacted

Consolidated: -15.5%
Max move: -22.7%

No verdict: the outlook took no direction, so there is nothing to score as a hit or a miss.