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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.00.

Several analysts have issued reports on GDYN shares. Weiss Ratings lowered Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a research note on Friday, May 29th. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Citigroup restated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Finally, Needham & Company LLC cut their price objective on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 1st.

Insider Buying and Selling at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the sale, the chief operating officer owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. The trade was a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,147 shares of company stock valued at $46,323. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of GDYN. Hantz Financial Services Inc. raised its position in Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock worth $29,000 after acquiring an additional 2,057 shares during the period. GAMMA Investing LLC lifted its position in shares of Grid Dynamics by 273.2% during 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 grew its stake in shares of Grid Dynamics by 57.1% during the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after acquiring an additional 1,757 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Grid Dynamics during the 2nd quarter valued at approximately $43,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock valued at $47,000 after acquiring an additional 3,122 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Stock Performance

Shares of GDYN opened at $5.79 on Friday. Grid Dynamics has a 52-week low of $5.11 and a 52-week high of $10.99. The business’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $6.77. The firm has a market cap of $484.19 million, a PE ratio of 115.82 and a beta of 0.98.

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

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.