Company Overview - EPAM Systems, Inc. (NYSE:EPAM) is recognized as one of the oversold growth stocks to buy according to analysts [1] - The company specializes in digital engineering and transformation services, leveraging AI, cloud, and advanced technologies to enhance customer experiences and drive growth [3] Recent Developments - On September 12, EPAM announced the rebranding of The Reference, Belgium's first digital agency, to Empathy Lab [1] - The merger of The Reference with the former Emakina Belgium team aims to establish Empathy Lab as a leader in AI-driven, human-centered digital experiences across Europe [2] Strategic Focus - Empathy Lab will focus on delivering AI-powered marketing, commerce, and customer engagement solutions that are designed to generate real business growth [2] - The new entity will combine expertise from data scientists, AI experts, strategists, and creatives to enhance its service offerings [2]

Core Viewpoint - The article discusses the positive outlook for the stock market based on recent economic data, particularly focusing on inflation and GDP growth estimates, while also highlighting 12 oversold growth stocks recommended by analysts for potential investment opportunities [2][4][5]. Economic Indicators - The latest PCE report shows year-over-year inflation at 2.9%, aligning with expectations and indicating tame inflation based on month-over-month data [2][3]. - Strong economic indicators, such as a lower trade deficit and increased durable goods orders, have led to raised GDP growth estimates for the third quarter, suggesting decent growth in the mid to high single-digit range [4]. Federal Reserve Insights - The Federal Reserve should focus on underlying inflation driven by real demand rather than inflation influenced by tariffs, which do not reflect strong demand for goods [3]. Stock Recommendations - A list of 12 oversold growth stocks is compiled, which have declined over 30% year-to-date but are expected to have more than 30% upside according to analysts [7]. - The methodology for selecting these stocks includes using the Finviz Stock Screener and cross-referencing data from CNN and hedge fund databases [7][8]. Individual Stock Highlights - **EPAM Systems, Inc. (NYSE:EPAM)**: Year-to-date performance of -34.55% with an analyst upside potential of 41.68%. The company focuses on AI-driven digital experiences and has recently rebranded its digital agency [9][10][11][12]. - **SPS Commerce, Inc. (NASDAQ:SPSC)**: Year-to-date performance of -42.59% with an analyst upside potential of 42.93%. The company is a leader in retail supply chain solutions and is expected to improve revenue recovery through enhanced sales targeting and relationship management [13][14][15][16].