Grid Dynamics (NASDAQ:GDYN) Price Target Cut to $8.00 by Analysts at TD Cowen

Grid Dynamics (NASDAQ:GDYN) had its target price decreased by TD Cowen from $10.00 to $8.00 in a research report sent to investors on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group downgraded Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a report on Friday, May 29th. Weiss Ratings cut shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Needham & Company LLC dropped their price target 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, Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.00.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $5.92 on Thursday. The firm’s fifty day moving average is $6.38 and its two-hundred day moving average is $6.90. The firm has a market cap of $495.09 million, a price-to-earnings ratio of 118.42 and a beta of 0.98. Grid Dynamics has a one year low of $5.11 and a one year high of $12.01.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $103.32 million. During the same quarter last year, the business posted $0.11 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts predict that Grid Dynamics will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the sale, the chief operating officer owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,147 shares of company stock valued at $46,323. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its stake 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 stake in Grid Dynamics by 273.2% in the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after buying an additional 2,634 shares in the last quarter. Quarry LP boosted its holdings in Grid Dynamics by 57.1% in the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after buying an additional 1,757 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Grid Dynamics during the 2nd quarter worth approximately $43,000. Finally, PNC Financial Services Group Inc. increased its stake in Grid Dynamics by 60.1% during the 1st 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 in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

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.