JPMorgan Chase & Co. Has Lowered Expectations for Grid Dynamics (NASDAQ:GDYN) Stock Price

Grid Dynamics (NASDAQ:GDYN) had its target price lowered by JPMorgan Chase & Co. from $10.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 28.76% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Needham & Company LLC reduced their price objective on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Grid Dynamics has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Grid Dynamics Trading Down 0.1%

GDYN opened at $6.99 on Wednesday. The company has a market cap of $592.54 million, a P/E ratio of 46.60 and a beta of 0.82. The company’s 50 day moving average is $8.57 and its 200-day moving average is $8.34. Grid Dynamics has a 1-year low of $6.16 and a 1-year high of $25.50.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the sale, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at approximately $3,448,520. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GDYN. Amundi bought a new stake in shares of Grid Dynamics during the 1st quarter valued at about $252,000. AQR Capital Management LLC lifted its stake in Grid Dynamics by 32.4% in the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after buying an additional 3,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Grid Dynamics by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock worth $573,000 after buying an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after buying an additional 35,204 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Grid Dynamics by 35.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock worth $2,546,000 after buying an additional 42,801 shares during the period. 71.18% of the stock is owned by 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.