Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given a consensus rating of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.3333.

Several equities analysts recently weighed in on GDYN shares. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. JPMorgan Chase & Co. decreased their target price on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Needham & Company LLC dropped their price target on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, October 31st.

Grid Dynamics Trading Down 2.4%

Shares of GDYN opened at $8.59 on Friday. The business’s 50 day moving average is $9.17 and its 200 day moving average is $8.73. Grid Dynamics has a 12-month low of $7.37 and a 12-month high of $25.50. The company has a market capitalization of $728.17 million, a PE ratio of 57.27 and a beta of 0.82.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $104.16 million during the quarter, compared to analyst estimates of $103.64 million. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The company’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Equities research analysts predict that Grid Dynamics will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 4,368 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at approximately $3,448,520. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 7,105 shares of company stock valued at $70,313 over the last ninety days. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in shares of Grid Dynamics in the 3rd quarter worth about $31,000. GAMMA Investing LLC increased its stake in 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 acquiring an additional 2,634 shares during the last quarter. Quarry LP raised its position in Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after purchasing an additional 1,757 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Grid Dynamics during the second quarter valued at approximately $43,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Grid Dynamics by 208.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company’s stock valued at $72,000 after purchasing an additional 4,197 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other 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.