Medpace Holdings

MEDP · NASDAQ

$622.43+$2.77 (+0.45%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $619.66

MEDP analyst rating

HoldConsensus of 10 analysts over the last 12 months. 20% rate it a buy.

Strong buy0
Buy2
Hold8
Underperform0
Sell0

12-month price target · 15 analysts

Average $602.33 (−3.2% downside)

Low: $381.59
Now: $622.43
High: $726.60

Upgrades and downgrades

The latest rating actions, newest first

MEDP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Mizuho	Oct 7, 2026	Maintains	Outperform	$665.00 → $700.00	69%
Barclays	Oct 7, 2026	Maintains	Equal-Weight	$600.00 → $625.00	54%
UBS	Sep 30, 2026	Upgrade	Sell → Neutral	$405.00 → $673.00	70%
Mizuho	Jul 24, 2026	Maintains	Outperform	$586.00 → $665.00	69%
BMO Capital	Jul 24, 2026	Maintains	Market Perform	$400.00 → $600.00	41%
Truist Securities	Jul 24, 2026	Maintains	Hold	$462.00 → $609.00	37%
TD Cowen	Jul 24, 2026	Maintains	Hold	$419.00 → $492.00	62%
RBC Capital	Jul 24, 2026	Maintains	Outperform	$484.00 → $692.00	67%
Baird	Jul 24, 2026	Maintains	Neutral	$547.00 → $624.00	64%
Mizuho	Jul 13, 2026	Maintains	Outperform	$495.00 → $586.00	69%

The case for and against

Updated Oct 18, 2026

Bull case

Medpace Holdings is viewed favorably because its core biopharma exposure, high operating efficiency, and more than 90% of revenue from biopharma position it to benefit from improving CRO demand and replenishment of drug pipelines. Fundamental momentum also appears to be strengthening, with RFPs up meaningfully both QoQ and YoY, half of 2Q bookings coming from oncology, and management expecting gross bookings and net bookings to improve from 2Q levels throughout the rest of '26 in almost any cancellation scenario. With 2026/27 revenue estimated at $2.85B/$2.93B and EPS at $17.58/$18.48, plus raised headcount growth expectations and normalized cancellations, the company appears set up for accelerating backlog growth and margin-supported earnings expansion.

Bear case

Medpace Holdings is vulnerable to a CRO demand cycle that can weaken if regulators tighten drug-cost rules, macro conditions curb biopharma funding, or consolidation and more internal R&D reduce outsourcing. Its heavy exposure to small and midsize biotech customers makes bookings susceptible to cancellations and delays, especially when capital markets are weak or government funding interruptions slow FDA review and trial progress. The business also faces execution risk from late-stage trial timing, talent shortages, and data-security failures, while downside modeling already assumes only 2% topline growth and 100 bps of margin compression versus a 22.0x NTM EBITDA multiple.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.