EPAM Price Target Cut to $110 as Softer Discretionary Spending Keeps Analyst at Hold

Goldman Sachs analyst James Schneider downgraded the rating on Epam Systems to a Hold today, setting a price target of $110.00.

James Schneider has given his Hold rating due to a combination of factors tied to EPAM’s weakening demand environment and reduced outlook. He observes that clients are cutting back on discretionary technology projects, pressuring EPAM’s custom software and services revenue, and this latest guidance cut follows an earlier reduction linked to a specific customer issue at CEMEX.

Schneider still recognizes EPAM’s structural strengths in bespoke software development and AI‑driven data work relative to peers, but he expects the drag from softer discretionary spending to persist for some time. With the price target lowered from $215 to $110 and limited visibility into a clear rebound in revenue growth and margins, he sees a balanced risk‑reward profile that supports maintaining a Neutral stance rather than a more positive recommendation.

In another report released today, Truist Financial also maintained a Hold rating on the stock with a $112.00 price target.