Jefferies Financial Group Initiates Coverage on Grid Dynamics (NASDAQ:GDYN)

Analysts at Jefferies Financial Group started coverage on shares of Grid Dynamics (NASDAQ:GDYN) in a note issued to investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $11.00 price target on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 37.67% from the company’s previous close.

Several other research firms have also commented on GDYN. Wall Street Zen lowered shares of Grid Dynamics from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. JPMorgan Chase & Co. reduced their price target on shares of Grid Dynamics from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Finally, Needham & Company LLC reduced their price target on shares of Grid Dynamics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.80.

Grid Dynamics Stock Performance

GDYN stock opened at $7.99 on Monday. The firm has a market cap of $676.51 million, a PE ratio of 42.05 and a beta of 1.03. The firm’s 50 day moving average price is $8.48 and its 200-day moving average price is $11.80. Grid Dynamics has a one year low of $7.37 and a one year high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $100.45 million. Grid Dynamics had a net margin of 4.37% and a return on equity of 1.89%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Institutional Trading of Grid Dynamics

A number of large investors have recently modified their holdings of GDYN. BNP Paribas Financial Markets purchased a new stake in shares of Grid Dynamics during the fourth quarter worth $353,000. Cetera Investment Advisers purchased a new stake in shares of Grid Dynamics during the fourth quarter worth $200,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Grid Dynamics by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company’s stock worth $722,000 after acquiring an additional 1,106 shares during the period. Millennium Management LLC purchased a new stake in shares of Grid Dynamics during the fourth quarter worth $519,000. Finally, ProShare Advisors LLC increased its position in shares of Grid Dynamics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 16,087 shares of the company’s stock worth $358,000 after acquiring an additional 5,293 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.