Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $9.00 Consensus Price Target from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.00.

Several research analysts have weighed in on GDYN shares. Citigroup restated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. TD Cowen decreased their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Needham & Company LLC lowered their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Jefferies Financial Group downgraded Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Friday, May 29th.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.00, for a total value of $35,480.00. Following the sale, the chief operating officer owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,147 shares of company stock valued at $46,323 over the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grid Dynamics

A number of large investors have recently added to or reduced their stakes in GDYN. JPMorgan Chase & Co. lifted its holdings in shares of Grid Dynamics by 271.1% in the third quarter. JPMorgan Chase & Co. now owns 513,677 shares of the company’s stock valued at $3,960,000 after purchasing an additional 375,254 shares in the last quarter. Banco BTG Pactual S.A. purchased a new position in shares of Grid Dynamics during the 4th quarter worth approximately $2,574,000. 1492 Capital Management LLC increased its stake in shares of Grid Dynamics by 40.8% during the 4th quarter. 1492 Capital Management LLC now owns 809,951 shares of the company’s stock worth $7,314,000 after purchasing an additional 234,694 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Grid Dynamics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after purchasing an additional 279,995 shares during the last quarter. Finally, P.A.W. Capital Corp acquired a new position in shares of Grid Dynamics during the 4th quarter worth approximately $903,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $5.86 on Friday. Grid Dynamics has a one year low of $5.11 and a one year high of $10.86. The business has a fifty day moving average of $6.28 and a two-hundred day moving average of $6.71. The company has a market cap of $490.07 million, a P/E ratio of 117.22 and a beta of 0.98.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. Sell-side analysts predict that Grid Dynamics will post 0.1 EPS 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.