GDYN - Grid Dynamics gets price target raise at Needham on business growth amid conflict

Needham raised its price target on Grid Dynamics (NASDAQ:GDYN) to $25 from $22, implying a potential upside of ~66% from stock's last close. The firm's rating remains steady at Buy. Analyst Mayank Tandon told investors that he is impressed with Grid Dynamics management's ability to quickly diversify their delivery and outperform their guidance in the face of the impact to their operations from the ongoing conflict in Ukraine. Stock pops up 6% following the target boost update in early Thursday trading. Wall Street analysts shifted from Strong Buy to Buy rating in Mar. 2022 while Seeking Alpha Quant Rating gives a Strong Sell on Grid Dynamics.

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Grid Dynamics gets price target raise at Needham on business growth amid conflict