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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given an average rating of “Hold” by the seven research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.00.

A number of brokerages recently issued reports on GDYN. TD Cowen dropped their target price on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday. Northland Securities dropped their target price on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Needham & Company LLC dropped their target price on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their target price on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Weiss Ratings lowered Grid Dynamics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 7th.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $5.84 on Tuesday. The business’s 50 day simple moving average is $6.04 and its 200 day simple moving average is $7.68. Grid Dynamics has a 52-week low of $5.13 and a 52-week high of $15.32. The firm has a market cap of $498.44 million, a PE ratio of 116.82 and a beta of 0.86.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $103.32 million. During the same quarter last year, the firm earned $0.11 EPS. Grid Dynamics’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Grid Dynamics will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after purchasing an additional 279,995 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Grid Dynamics by 2.5% during the 2nd quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock worth $53,933,000 after purchasing an additional 112,319 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of Grid Dynamics by 236.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after purchasing an additional 3,017,017 shares during the last quarter. Fourth Sail Capital LP increased its position in shares of Grid Dynamics by 36.2% during the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after purchasing an additional 1,016,563 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Grid Dynamics by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock worth $21,282,000 after purchasing an additional 405,381 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.