EPAM Systems posts strong Q1 with $1.4B revenue and AI-native growth, rated Buy with $135 target

EPAM Systems reported a solid Q1 with $1.40 billion in revenue, a 7.6% increase year-over-year, and $2.86 non-GAAP EPS. The company achieved $125 million in AI-native revenue, marking its fifth consecutive quarter of double-digit sequential growth in this area. Its partnership with Anthropic strengthens EPAM's position as an engineering-led applied AI partner, enhancing its transformation and client offerings. Analysts rate EPAM as a Buy with a $135 price target, highlighting its strong engineering foundation and momentum in AI integration.