EPAM Systems is projected to report Q2 2026 revenue of $1.41 billion and a non-GAAP EPS of $3.14, with its current stock price of $107.26 sitting significantly below the average analyst target of $137.31.
The central focus for investors is the company’s "AI-native revenue" trajectory and the initial impact of its OpenAI Advanced Partnership as it seeks to offset slowing discretionary IT spending.
EPAM is aggressively pivoting its business model toward high-value AI-driven transformation services to combat a challenging macro environment in North America. Analysts will be looking for a significant sequential increase in AI-driven project work to validate management's ambitious target of $600 million in annual AI-native revenue for fiscal year 2026.