Northland Securities Lowers Grid Dynamics (NASDAQ:GDYN) Price Target to $12.00

Grid Dynamics (NASDAQ:GDYN) had its price target decreased by equities researchers at Northland Securities from $14.00 to $12.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price target suggests a potential upside of 91.69% from the stock’s previous close.

A number of other equities research analysts have also issued reports on GDYN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Needham & Company LLC lowered their price objective on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. TD Cowen dropped their price target on Grid Dynamics from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.60.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $6.26 on Monday. The stock has a market capitalization of $530.66 million, a price-to-earnings ratio of 62.60 and a beta of 0.84. Grid Dynamics has a 1-year low of $6.00 and a 1-year high of $17.91. The company has a 50 day moving average price of $7.86 and a 200 day moving average price of $8.23.

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

Institutional Trading of Grid Dynamics

Hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. increased its position 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. bought a new stake in Grid Dynamics in the 3rd quarter valued at $8,854,000. Alliancebernstein L.P. grew its position in Grid Dynamics by 123.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after purchasing an additional 1,049,519 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings 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 during the period. Finally, Fourth Sail Capital LP increased its holdings 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 during the period. Institutional investors own 71.18% of the company’s stock.

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.