Gross MarginGross margin in the second quarter declined 150 basis points year-over-year to 34.1%, falling short of consensus due to unfavorable FX, incremental investments, and timing of certain fixed price contracts.
GuidanceGuidance for the next quarter reflects a reduction due to the revenue roll-off at a large home improvement client and higher AI investments.
Price TargetThe price target for Grid Dynamics Holdings, Inc. has been lowered from $17.00 to $15.00.