Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Rating of “Moderate Buy” from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.3333.

GDYN has been the topic of a number of research reports. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Needham & Company LLC lowered their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th.

Grid Dynamics Price Performance

GDYN stock opened at $8.27 on Friday. The company’s 50-day moving average is $9.18 and its 200-day moving average is $8.64. The stock has a market capitalization of $701.05 million, a PE ratio of 55.13 and a beta of 0.82. Grid Dynamics has a 1 year low of $7.37 and a 1 year high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. On average, analysts anticipate that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In other news, CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the transaction, the chief financial officer owned 344,852 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 6.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Grid Dynamics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after buying an additional 279,995 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock worth $53,933,000 after acquiring an additional 112,319 shares during the period. Alyeska Investment Group L.P. lifted its holdings 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. Dimensional Fund Advisors LP boosted its position in Grid Dynamics by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,985,557 shares of the company’s stock worth $15,309,000 after purchasing an additional 105,950 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Grid Dynamics by 7.1% in the 2nd quarter. Jennison Associates LLC now owns 1,966,828 shares of the company’s stock valued at $22,717,000 after purchasing an additional 129,961 shares during the period. Hedge funds and other 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.