Grid Dynamics Holdings, Inc. Class A Common Stock (GDYN)
Grid Dynamics Holdings, Inc. Class A (GDYN) is a technology services company specializing in digital transformation, data engineering, automation, and cloud-native software development. The company partners with Fortune 500 clients across various industries to enhance their digital capabilities, improve customer experiences, and optimize operational efficiency through innovative technology solutions.
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Despite earnings misses, three tech and consulting companies show potential for long-term growth due to strong underlying business fundamentals and analyst optimism.
Wedbush analyst Moshe Katri initiated coverage on Grid Dynamics Holdings Inc (NASDAQ:GDYN) with an Outperform rating and a price target of $13. The rating reflected recent, encouraging first quarter and calendar year 2024 results. The company’s GenAI-focused initiatives and product engineering expertise bode well for a second-half calendar year 2024 sequential uptick. See Also: DOJ Case Against Live Nation Is ‘Weak,’ Analysts Say: ‘Separating Ticketmaster… Is Unlikely To Lower Ticket Prices’ Katri noted that the company’s outsized exposure to retail and TMT verticals, which impacted growth in calendar year 2023. He expects the company to post mid-single-digit and mid-double-digit currency revenue growth between 2024 and 2025, respectively. GDYN’s partnership model provides significant, long-term monetization ...Full story available on Benzinga.com
Grid Dynamics (GDYN) delivered earnings and revenue surprises of -12.50% and 3.02%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
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The digital transformation company reported earnings and sales that were better than expected.