Grid Dynamics (NASDAQ:GDYN) Price Target Lowered to $9.00 at JPMorgan Chase & Co.

Grid Dynamics (NASDAQ:GDYN) had its price target trimmed by JPMorgan Chase & Co. from $10.00 to $9.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Needham & Company LLC lowered their price target on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Grid Dynamics Stock Performance

GDYN opened at $7.00 on Wednesday. Grid Dynamics has a 1 year low of $6.16 and a 1 year high of $25.50. The company’s 50 day simple moving average is $8.62 and its 200 day simple moving average is $8.35. The stock has a market capitalization of $593.39 million, a PE ratio of 46.67 and a beta of 0.82.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. lifted its holdings in Grid Dynamics by 236.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after buying an additional 3,017,017 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Grid Dynamics in the third quarter valued at about $8,854,000. Alliancebernstein L.P. boosted its holdings in Grid Dynamics by 123.9% in the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock valued at $21,904,000 after purchasing an additional 1,049,519 shares during the last quarter. Fourth Sail Capital LP grew its stake in Grid Dynamics by 36.2% during the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock valued at $34,567,000 after purchasing an additional 1,016,563 shares in the last quarter. Finally, CenterBook Partners LP increased its holdings in Grid Dynamics by 255.1% during the 3rd quarter. CenterBook Partners LP now owns 1,094,701 shares of the company’s stock worth $8,440,000 after purchasing an additional 786,384 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

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.