Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Recommendation of “Hold” by Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $9.40.

A number of equities analysts have commented on the stock. Northland Securities reduced their price target on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Weiss Ratings lowered shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Needham & Company LLC reduced their target price on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, TD Cowen reduced their target price on shares of Grid Dynamics from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 1st.

Grid Dynamics Stock Down 1.1%

NASDAQ:GDYN opened at $5.42 on Wednesday. The firm has a market cap of $453.27 million, a PE ratio of 108.42 and a beta of 0.94. Grid Dynamics has a 12 month low of $5.13 and a 12 month high of $12.86. The company’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $7.23.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. On average, research analysts expect that Grid Dynamics will post 0.1 EPS for the current fiscal year.

Insider Activity

In other news, COO Yury Gryzlov sold 4,435 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.00, for a total transaction of $35,480.00. Following the transaction, the chief operating officer directly owned 514,948 shares in the company, valued at approximately $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,147 shares of company stock worth $45,389 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its position in shares of Grid Dynamics by 175.5% during the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock worth $29,000 after purchasing an additional 2,057 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Grid Dynamics by 273.2% during the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after purchasing an additional 2,634 shares in the last quarter. Quarry LP lifted its position in shares of Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after purchasing an additional 1,757 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Grid Dynamics during the second quarter worth approximately $43,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Grid Dynamics by 60.1% during the first quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock worth $47,000 after buying an additional 3,122 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.