Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Target Price at $9.40

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.40.

Several analysts recently issued reports on GDYN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a report on Friday, July 31st. TD Cowen lifted their target price on shares of Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup reissued a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Zacks Research upgraded shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group cut shares of 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.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $7.98 on Thursday. The stock’s 50 day simple moving average is $6.36 and its 200 day simple moving average is $6.41. Grid Dynamics has a twelve month low of $5.11 and a twelve month high of $10.21. The company has a market capitalization of $647.42 million, a price-to-earnings ratio of 399.20 and a beta of 0.92.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The firm had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $106.55 million. On average, analysts forecast that Grid Dynamics will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.00, for a total transaction of $35,480.00. Following the completion of the sale, the chief operating officer owned 514,948 shares in the company, valued at $4,119,584. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 10,077 shares of company stock worth $78,268. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GDYN. Alyeska Investment Group L.P. raised its stake in 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 valued at $33,082,000 after purchasing an additional 3,017,017 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Grid Dynamics in the 3rd quarter valued at $8,854,000. Bastion Asset Management Inc. acquired a new stake in Grid Dynamics in the 1st quarter worth $6,899,000. Alliancebernstein L.P. increased its holdings in shares of Grid Dynamics by 123.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after purchasing an additional 1,049,519 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Grid Dynamics by 4,907,857.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock worth $9,307,000 after purchasing an additional 1,030,650 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.