Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $9.40 Consensus PT from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given a consensus rating of “Hold” by the eight analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.40.

Several equities research analysts have commented on the company. Weiss Ratings lowered Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. 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 research note on Friday, May 1st. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. JPMorgan Chase & Co. cut their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th.

Insider Buying and Selling

In other news, COO Yury Gryzlov sold 4,435 shares of the company’s stock in a transaction that occurred on 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 directly owned 514,948 shares in the company, valued at $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,147 shares of company stock worth $45,389. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its position in shares of Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after purchasing an additional 2,057 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Grid Dynamics by 273.2% in the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after purchasing an additional 2,634 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics in the second quarter valued at approximately $43,000. SBI Securities Co. Ltd. purchased a new stake in shares of Grid Dynamics in the third quarter valued at approximately $31,000. Finally, Quarry LP grew its position in shares of Grid Dynamics by 57.1% in 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 in the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Trading Down 6.1%

NASDAQ GDYN opened at $7.04 on Friday. The stock has a market capitalization of $588.76 million, a price-to-earnings ratio of 140.83 and a beta of 0.94. Grid Dynamics has a twelve month low of $5.13 and a twelve month high of $12.86. The stock has a 50-day moving average of $6.23 and a 200 day moving average of $7.47.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.Grid Dynamics’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. Equities 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.