Needham & Company LLC Cuts Grid Dynamics (NASDAQ:GDYN) Price Target to $13.00

Grid Dynamics (NASDAQ:GDYN) had its price objective trimmed by Needham & Company LLC from $15.00 to $13.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

GDYN has been the subject of several other reports. Jefferies Financial Group assumed coverage on Grid Dynamics in a research note on Monday, September 22nd. They issued a “buy” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Grid Dynamics from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen lowered Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grid Dynamics in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Grid Dynamics presently has an average rating of “Hold” and a consensus price target of $11.33.

Grid Dynamics Stock Up 22.9%

Shares of GDYN opened at $9.34 on Friday. The business has a 50-day simple moving average of $7.96 and a two-hundred day simple moving average of $10.29. The stock has a market cap of $790.82 million, a price-to-earnings ratio of 62.27 and a beta of 1.07. Grid Dynamics has a 52 week low of $7.37 and a 52 week high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $103.64 million. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The firm’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. Grid Dynamics has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts anticipate that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GDYN. Nuveen LLC purchased a new position in shares of Grid Dynamics in the 1st quarter valued at $19,977,000. Alliancebernstein L.P. grew its stake in Grid Dynamics by 123.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after buying an additional 1,049,519 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Grid Dynamics by 1,378.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 726,862 shares of the company’s stock worth $8,395,000 after buying an additional 677,688 shares during the last quarter. Fourth Sail Capital LP grew its stake in Grid Dynamics by 58.5% during the 2nd quarter. Fourth Sail Capital LP now owns 1,623,562 shares of the company’s stock worth $18,752,000 after buying an additional 599,293 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Grid Dynamics by 72.7% during the 1st quarter. American Century Companies Inc. now owns 1,073,327 shares of the company’s stock worth $16,798,000 after buying an additional 451,862 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

About Grid Dynamics

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.