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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.00.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Finally, Needham & Company LLC dropped their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, October 31st.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $7.00 on Thursday. Grid Dynamics has a 1 year low of $6.16 and a 1 year high of $25.50. The company has a market capitalization of $593.39 million, a PE ratio of 46.67 and a beta of 0.82. The company has a fifty day moving average of $8.62 and a 200 day moving average of $8.35.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of Grid Dynamics stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the transaction, the chief financial officer owned 344,852 shares of the company’s stock, valued at approximately $3,448,520. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after purchasing an additional 2,057 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Grid Dynamics during the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC grew its stake in Grid Dynamics by 273.2% in the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after acquiring an additional 2,634 shares during the period. Quarry LP raised its position in Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after acquiring an additional 1,757 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Grid Dynamics during the second quarter valued at $43,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Company Profile

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.