Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.3333.

Several equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. JPMorgan Chase & Co. lowered their price objective on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Needham & Company LLC cut their target price on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, 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 target price for the company.

Insider Activity

In related news, CFO Anil Doradla sold 4,368 shares of Grid Dynamics stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total transaction of $43,680.00. Following the completion of the sale, the chief financial officer owned 344,852 shares of the company’s stock, valued at $3,448,520. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Grid Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp boosted its holdings in shares of Grid Dynamics by 3.7% in the 1st quarter. Northern Trust Corp now owns 882,826 shares of the company’s stock valued at $13,816,000 after acquiring an additional 31,099 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Grid Dynamics by 71.0% in the first quarter. Hsbc Holdings PLC now owns 30,018 shares of the company’s stock valued at $464,000 after purchasing an additional 12,459 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Grid Dynamics by 5.2% in the first quarter. Corebridge Financial Inc. now owns 32,159 shares of the company’s stock valued at $503,000 after purchasing an additional 1,583 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Grid Dynamics during the 1st quarter worth about $1,472,000. Finally, Amundi purchased a new position in shares of Grid Dynamics during the 1st quarter valued at about $252,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Trading Up 0.1%

Shares of GDYN stock opened at $9.18 on Wednesday. The company has a market cap of $778.19 million, a PE ratio of 61.20 and a beta of 0.85. Grid Dynamics has a 12-month low of $7.37 and a 12-month high of $25.50. The business’s fifty day simple moving average is $8.87 and its 200-day simple moving average is $9.04.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The firm had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities analysts forecast that Grid Dynamics will post 0.18 earnings per share for the current year.

About Grid Dynamics

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.