Grid Dynamics (NASDAQ:GDYN) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Grid Dynamics (NASDAQ:GDYN) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on the company. TD Cowen boosted their price target on Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Jefferies Financial Group cut Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Grid Dynamics in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Grid Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $7.58 on Wednesday. Grid Dynamics has a 1 year low of $5.11 and a 1 year high of $10.21. The stock has a market cap of $633.92 million, a P/E ratio of 379.19 and a beta of 0.92. The firm has a 50-day moving average of $6.21 and a 200 day moving average of $6.47.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $108.16 million for the quarter, compared to analyst estimates of $106.55 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. Research analysts expect that Grid Dynamics will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the transaction, the chief operating officer directly owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,147 shares of company stock valued at $46,323 over the last three months. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grid Dynamics

Institutional investors have recently made changes to their positions in the company. Amundi purchased a new position in Grid Dynamics in the 1st quarter worth approximately $252,000. AQR Capital Management LLC lifted its position in Grid Dynamics by 32.4% in the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after acquiring an additional 3,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Grid Dynamics by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock valued at $573,000 after purchasing an additional 4,116 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after purchasing an additional 35,204 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Grid Dynamics by 35.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock worth $2,546,000 after purchasing an additional 42,801 shares in the last quarter. 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.