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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $9.40.

A number of brokerages recently weighed in on GDYN. TD Cowen lifted their price target on Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a report on Friday, May 29th. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. JPMorgan Chase & Co. lifted their price target on Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Zacks Research raised Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 3,918 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $8.00, for a total value of $31,344.00. Following the transaction, the chief operating officer directly owned 503,070 shares of the company’s stock, valued at $4,024,560. This represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,560 shares of company stock worth $74,132. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. grew its stake in shares of 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 purchasing an additional 3,017,017 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Grid Dynamics in the third quarter valued at about $8,854,000. Bastion Asset Management Inc. bought a new position in Grid Dynamics during the first quarter worth about $6,899,000. Alliancebernstein L.P. boosted its holdings in Grid Dynamics by 123.9% during the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after buying an additional 1,049,519 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Grid Dynamics by 4,907,857.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock valued at $9,307,000 after purchasing an additional 1,030,650 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Trading Up 1.9%

GDYN stock opened at $7.98 on Monday. The company has a market capitalization of $647.39 million, a price-to-earnings ratio of 399.20 and a beta of 0.89. Grid Dynamics has a 52 week low of $5.11 and a 52 week high of $10.21. The firm’s 50-day moving average is $7.07 and its two-hundred day moving average is $6.52.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $108.16 million during the quarter, compared to the consensus estimate of $106.55 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. On average, equities research analysts predict that Grid Dynamics will post 0.15 earnings per share for the current 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.