Grid Dynamics (NASDAQ:GDYN) Price Target Lowered to $12.00 at Northland Securities

Grid Dynamics (NASDAQ:GDYN) had its price target decreased by Northland Securities from $14.00 to $12.00 in a report released on Monday,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

GDYN has been the subject of a number of other research reports. TD Cowen lowered their target price on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Needham & Company LLC decreased their price target on Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Grid Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.60.

Grid Dynamics Price Performance

Shares of GDYN stock opened at $6.51 on Monday. The stock has a market capitalization of $551.85 million, a PE ratio of 65.10 and a beta of 0.84. The business’s 50 day simple moving average is $7.92 and its 200 day simple moving average is $8.25. Grid Dynamics has a one year low of $6.11 and a one year high of $18.22.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $106.15 million during the quarter, compared to analyst estimates of $105.92 million. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. As a group, research analysts expect that Grid Dynamics will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GDYN. Alyeska Investment Group L.P. grew its holdings in Grid Dynamics by 236.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after purchasing an additional 3,017,017 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Grid Dynamics during the 3rd quarter worth about $8,854,000. Alliancebernstein L.P. grew its stake in shares of Grid Dynamics by 123.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock valued at $21,904,000 after buying an additional 1,049,519 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Grid Dynamics by 4,907,857.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock valued at $9,307,000 after buying an additional 1,030,650 shares during the period. Finally, Fourth Sail Capital LP increased its position in Grid Dynamics by 36.2% in the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock valued at $34,567,000 after buying an additional 1,016,563 shares in the last quarter. Institutional investors and hedge funds 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.