TD Cowen analyst Bryan Bergin reiterated a Buy rating on Grid Dynamics Holdings (GDYN – Research Report) today and set a price target of $19.00.
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Bryan Bergin has given his Buy rating due to a combination of factors that highlight Grid Dynamics Holdings’ strong performance and strategic positioning. The company delivered a robust first-quarter performance, exceeding both its own guidance and market expectations, which underscores its operational strength. Despite a mixed outlook for the second quarter, the affirmation of the CY25 revenue guidance amidst macroeconomic uncertainties is a positive sign, suggesting resilience and confidence in future growth.
Bergin also notes the company’s solid client portfolio and strategic relationships, which contribute to its optimistic outlook. The absence of significant macroeconomic impacts on its business, along with ongoing mission-critical projects, further supports this view. Additionally, the company’s proactive investments in areas like AI research and development are seen as a strategic move to ensure long-term growth durability, justifying the Buy rating and the price target of $19.
In another report released today, Needham also reiterated a Buy rating on the stock with a $20.00 price target.