Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Rating of “Moderate Buy” from Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.60.

A number of brokerages recently weighed in on GDYN. Needham & Company LLC decreased their price target on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, March 6th. TD Cowen dropped their price objective on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Northland Securities decreased their target price on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Grid Dynamics by 8.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,063 shares of the company’s stock worth $186,000 after purchasing an additional 1,302 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Grid Dynamics by 3.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 47,645 shares of the company’s stock valued at $367,000 after buying an additional 1,640 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Grid Dynamics by 50.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock valued at $47,000 after buying an additional 1,742 shares during the last quarter. Quarry LP increased its stake in Grid Dynamics by 57.1% in the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after buying an additional 1,757 shares during the period. Finally, Trust Point Inc. raised its position in Grid Dynamics by 13.6% during the 4th quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock worth $135,000 after buying an additional 1,785 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Stock Down 1.7%

GDYN opened at $6.33 on Monday. Grid Dynamics has a 52 week low of $6.00 and a 52 week high of $17.46. The business’s 50 day moving average is $7.71 and its two-hundred day moving average is $8.20. The firm has a market cap of $540.27 million, a price-to-earnings ratio of 63.30 and a beta of 0.84.

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

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.