Grid Dynamics (NASDAQ:GDYN) Sets New 12-Month Low on Analyst Downgrade

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) hit a new 52-week low on Tuesday after Northland Securities lowered their price target on the stock from $14.00 to $12.00. Northland Securities currently has an outperform rating on the stock. Grid Dynamics traded as low as $6.06 and last traded at $6.2190, with a volume of 343368 shares trading hands. The stock had previously closed at $6.51.

Several other equities research analysts also recently weighed in on GDYN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. JPMorgan Chase & Co. dropped their price objective on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC cut their price objective on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Finally, TD Cowen reduced 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. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.60.

Institutional Trading of Grid Dynamics

Several hedge funds have recently modified their holdings of GDYN. Alyeska Investment Group L.P. grew its holdings in Grid Dynamics by 236.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after acquiring an additional 3,017,017 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Grid Dynamics in the third quarter valued at $8,854,000. Alliancebernstein L.P. lifted 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 acquiring an additional 1,049,519 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Grid Dynamics by 4,907,857.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock worth $9,307,000 after purchasing an additional 1,030,650 shares in the last quarter. Finally, Fourth Sail Capital LP boosted its position in shares of Grid Dynamics by 36.2% during the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after purchasing an additional 1,016,563 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Trading Down 3.8%

The firm has a market capitalization of $530.66 million, a price-to-earnings ratio of 62.60 and a beta of 0.84. The stock’s 50 day moving average price is $7.86 and its two-hundred day moving average price is $8.23.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $106.15 million during the quarter, compared to analysts’ expectations of $105.92 million. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 earnings per share. On average, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.