Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Rating of “Moderate Buy” from Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.3333.

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

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the sale, the chief financial officer owned 344,852 shares in the company, valued at $3,448,520. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 7,105 shares of company stock worth $70,313 over the last three months. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock valued at $53,933,000 after purchasing an additional 112,319 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Grid Dynamics by 236.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock valued at $33,082,000 after purchasing an additional 3,017,017 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Grid Dynamics by 5.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,985,557 shares of the company’s stock valued at $15,309,000 after buying an additional 105,950 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Grid Dynamics by 7.1% during the 2nd quarter. Jennison Associates LLC now owns 1,966,828 shares of the company’s stock valued at $22,717,000 after buying an additional 129,961 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Grid Dynamics by 123.9% in 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 period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Trading Down 2.4%

NASDAQ:GDYN opened at $8.59 on Friday. The company has a market cap of $728.17 million, a PE ratio of 57.27 and a beta of 0.82. The company has a 50 day simple moving average of $9.17 and a two-hundred day simple moving average of $8.73. Grid Dynamics has a 12 month low of $7.37 and a 12 month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. Research 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.