Northland analyst Tim Savageaux lowered the firm’s price target on Grid Dynamics (GDYN) to $14 from $18 and keeps an Outperform rating on the shares following the company’s Q2 report and guidance issued late last week. The firm believe shares are pricing in potential negative impacts of AI on outsourced software development/digital services that are “not evident in the company’s results or pipeline,” the analyst tells investors in a post-earnings note.
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