Mizuho Cuts EPAM Price Target to $199; TD Cowen Lowers to $220 After 23% Selloff
Mizuho trimmed EPAM Systems’ 2026 price target from $228 to $199 after a sequential revenue decline from Neoris’ top client, while maintaining an Outperform rating. TD Cowen cut its target from $243 to $220, with 70% of analysts rating EPAM Buy despite a 23% share drop.
1. Analyst Price Target Cuts
EPAM Systems saw its 2026 price target trimmed by Mizuho from $228 to $199 after organic growth guidance missed investor expectations. TD Cowen also reduced its target from $243 to $220 while maintaining a Buy rating, citing improving pricing trends and AI-driven demand strength.
2. Share Performance and Analyst Outlook
EPAM’s share price has fallen 23% over the past month, presenting an implied upside of nearly 42% based on Mizuho’s $199 target and around 40% based on the $195 consensus. Out of 20 analysts, 70% rate EPAM as Buy and 30% as Hold, reflecting broad confidence despite recent volatility.
3. Growth Guidance and Demand Drivers
The guidance downgrade reflects a sequential revenue decline from Neoris’ largest customer in Q1, pressuring near-term organic growth projections. Analysts point to margin expansion potential and a strong balance sheet as key supports for EPAM’s long-term performance.