Why Goldman Suddenly Turned Neutral on EPAM Systems, Inc. (EPAM)
Key takeaways
- Why Goldman Suddenly Turned Neutral on EPAM Systems, Inc.
- (NYSE:EPAM) delivered its Q1 results, outperforming EPS and revenue by $0.11 and $0.01 billion, respectively.
- What stood out the most in its results was the solid growth in AI services, which contributed over $125 million in the first quarter.
Why Goldman Suddenly Turned Neutral on EPAM Systems, Inc. (EPAM) Rameen Kasana Tue, May 12, 2026 at 12:03 AM GMT+7 2 min read EPAM EPAM Systems, Inc. (NYSE:EPAM) is among the best high-return technology stocks to buy now. On May 8, Goldman Sachs significantly cut the price target on EPAM Systems, Inc. (NYSE:EPAM) to $110 from $215 and downgraded the stock from Buy to Neutral. According to the firm, the company is experiencing stronger-than-expected pressures on discretionary spending, which are adversely impacting its custom applications segment and broader services business. The analyst further added that the continued lack of discretionary spending momentum among customers will possibly “pose headwinds for the foreseeable future.”
A day earlier, EPAM Systems, Inc. (NYSE:EPAM) delivered its Q1 results, outperforming EPS and revenue by $0.11 and $0.01 billion, respectively. The company’s revenue also increased 7.6% YoY. Despite this, the stock fell 3.71% in pre-market trading.
What stood out the most in its results was the solid growth in AI services, which contributed over $125 million in the first quarter. Looking ahead, EPAM Systems, Inc. (NYSE:EPAM)’s strategic partnership with Anthropic is expected to accelerate enterprise AI transformations, positioning the company as one of the best high-return technology stocks to buy now. As stated by CEO Arkadiy Dobkin,