EPAM Systems, Inc. (EPAM) Stock Forecasts

Mizuho raised its price target on EPAM Systems (NYSE:EPAM) to $181 from $130, citing strong Q3 2026 results. The company reported 2.5% organic revenue growth, exceeding guidance, and raised its AI-native revenue target to $650 million. EPAM also announced a $500 million share repurchase program and a commitment to return 50% of free cash flow annually from 2027 to 2029.

EPAM Systems initiated a $500 million accelerated share repurchase with UBS, expecting 2.55 million shares by Nov. 10. The company will use cash and borrowings from its credit facility. EPAM has committed to returning at least 50% of free cash flow to shareholders annually from 2027 through 2029. The buyback is part of a $1.8 billion authorization through 2029, following a 2.3% revenue increase in Q3.

Five companies—PayPal, General Motors, EPAM Systems, Lam Research, and Airbnb—are aggressively buying back their own stock amid market sell-offs. PayPal has spent $6 billion on buybacks in the past year, while General Motors authorized a $20 billion program. EPAM Systems raised its buyback authorization to $1.8 billion, Lam Research announced a $25 billion plan, and Airbnb authorized a $12 billion buyback.

EPAM Systems Inc (EPAM) reported Q3 2026 revenue of $1.426 billion, exceeding guidance. AI-native revenue surpassed $185 million, growing 130% YoY. The company raised full-year AI-native revenue guidance to $650 million. EPAM signed three large multi-year deals and announced a $1.8 billion share buyback. Non-AI business declined 6% YoY, and Q4 growth is expected to slow to 0.5%-1.6%.

Guggenheim raised its price target on EPAM Systems (NYSE:EPAM) to $190 from $160, citing strong Q3 2026 results and AI deals. The company reported $1.43B revenue and $3.51 EPS, exceeding expectations. EPAM also announced a $500M share repurchase program and raised its AI-native revenue outlook to $650M.

EPAM Systems reported Q3 2026 earnings exceeding expectations, with revenue, profitability, and EPS outperforming forecasts. The company plans to return at least 50% of free cash flow to shareholders over the next 3 years and raised its 2026 AI-native revenue target to $650M, according to CEO Balazs Fejes.