It is imperative that businesses implement digitization into their model. The global digital transformation market is expected to reach USD 1.7 trillion by 2030, expanding at a CAGR of 14.9% (GLOBE NEWSWIRE). Grid Dynamics Holdings (Nasdaq: GDYN) is a digital transformation company that provides enterprise-level services in the areas of search, analytics, and release automation for Fortune 1000 corporations worldwide. Currently, it serves customers that operate in all sectors with big-name clients such as Google and Merck, among many others.
Comps: Paymentus Holdings, Inc. (NYSE: PAY), Perficient, Inc. (Nasdaq: PRFT)
In relation to Grid Dynamics Holdings, Paymentus Holdings has a similar market capitalization, while Perficient is a direct competitor. With this in mind, Grid Dynamics Holdings posted revenue growth of 40.1% as of Q3 2022, which is clear of either of these companies by a significant margin. On top of this, their debt ratios are more favorable than either Paymentus Holdings or Perficient.