Is GDEV, Inc. overvalued or undervalued?

As of 1 October 2023, GDEV, Inc. has moved from fair to attractive based on recent analysis. The company appears to be undervalued at this time. Key ratios include a Price-to-Earnings (P/E) ratio of 15.2, a Price-to-Book (P/B) ratio of 1.8, and a Debt-to-Equity (D/E) ratio of 0.5, which indicate a solid financial position relative to its earnings and asset base.
When compared to peers such as Activision Blizzard, which has a P/E ratio of 20.5, and Electronic Arts with a P/B ratio of 3.0, GDEV, Inc. stands out as a more attractive investment opportunity. The company's recent stock performance has also shown resilience, suggesting a favorable outlook compared to the Sensex returns, reinforcing the valuation narrative.