Grid Dynamics (NASDAQ:GDYN) Downgraded to “Hold” Rating by Wall Street Zen

Grid Dynamics (NASDAQ:GDYN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Needham & Company LLC upped their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.75.

Grid Dynamics Stock Down 1.9%

Shares of Grid Dynamics stock opened at $10.50 on Friday. The company has a market cap of $887.75 million, a P/E ratio of 87.51 and a beta of 1.04. Grid Dynamics has a 52-week low of $10.26 and a 52-week high of $25.50. The firm’s 50 day moving average price is $12.26 and its 200-day moving average price is $16.03.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $100.42 million during the quarter, compared to analysts’ expectations of $98.19 million. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. As a group, equities research analysts forecast that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the sale, the chief operating officer directly owned 474,269 shares of the company’s stock, valued at approximately $6,269,836.18. This represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 6,737 shares of company stock worth $84,251. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Coppell Advisory Solutions LLC bought a new position in shares of Grid Dynamics in the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Grid Dynamics by 28,150.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock valued at $27,000 after acquiring an additional 1,689 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock valued at $36,000 after acquiring an additional 1,526 shares in the last quarter. USA Financial Formulas bought a new position in shares of Grid Dynamics in the 1st quarter valued at approximately $42,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Grid Dynamics in the 4th quarter valued at approximately $70,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.