Needham analyst Mayank Tandon maintains $Grid Dynamics (GDYN.US)$ with a buy rating, and adjusts the target price from $17 to $20.
According to TipRanks data, the analyst has a success rate of 44.2% and a total average return of 1.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Grid Dynamics (GDYN.US)$'s main analysts recently are as follows:
The firm anticipates a neutral risk/reward for Grid Dynamics leading into the digital IT services results for Q3, citing no stark changes in short-cycle IT spending. The firm's stance is to focus on valuation and expected relative growth as we approach the year 2025.
Grid Dynamics reported a significant third-quarter performance that surpassed expectations, and their fourth-quarter outlook indicates a strong finish that is ahead of the consensus.
Following Grid Dynamics' earnings that surpassed Q3 expectations, the company showcased a 5.3% sequential revenue growth, attributed to widespread vigor. There's a noted uptick in demand as Global 2000 clients adjust their focus towards digital transformation initiatives. Additionally, AI ventures are advancing from experimental 'proof of concept' stages to full-fledged large-scale implementations.
Note:
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