Grid Dynamics price target raised to $20 from $17 at Needham

Needham raised the firm’s price target on Grid Dynamics (GDYN) to $20 from $17 and keeps a Buy rating on the shares after its Q3 earnings beat. The company delivered sequential revenue growth of 5.3% on broad-based strength, with Grid Dynamics seeing an increase in demand as Global 2000 customers re-prioritize digital transformation programs and AI projects move from “proof of concept” phases to implementations at scale, the analyst tells investors in a research note.