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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.3333.

GDYN has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Grid Dynamics in a research note on Monday, September 22nd. They issued a “buy” rating and a $11.00 price target for the company. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. JPMorgan Chase & Co. dropped their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Needham & Company LLC reduced their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, October 31st.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $9.18 on Wednesday. The stock has a market capitalization of $778.19 million, a price-to-earnings ratio of 61.20 and a beta of 0.85. The firm’s 50 day simple moving average is $8.87 and its 200-day simple moving average is $9.04. Grid Dynamics has a 12 month low of $7.37 and a 12 month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The firm had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. Analysts anticipate that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total transaction of $43,680.00. Following the completion of the transaction, the chief financial officer owned 344,852 shares in the company, valued at $3,448,520. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grid Dynamics

Several large investors have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Grid Dynamics by 3.7% in the first quarter. Northern Trust Corp now owns 882,826 shares of the company’s stock valued at $13,816,000 after acquiring an additional 31,099 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Grid Dynamics by 71.0% during the first quarter. Hsbc Holdings PLC now owns 30,018 shares of the company’s stock worth $464,000 after purchasing an additional 12,459 shares in the last quarter. Corebridge Financial Inc. raised its stake in Grid Dynamics by 5.2% in the 1st quarter. Corebridge Financial Inc. now owns 32,159 shares of the company’s stock valued at $503,000 after purchasing an additional 1,583 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Grid Dynamics in the 1st quarter valued at $1,472,000. Finally, Amundi acquired a new stake in Grid Dynamics during the 1st quarter worth $252,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

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.