Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Target Price at $11.00

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.00.

A number of equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Needham & Company LLC decreased their price objective on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday.

Grid Dynamics Stock Down 2.6%

GDYN opened at $6.81 on Thursday. The firm has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $8.33. Grid Dynamics has a 52 week low of $6.16 and a 52 week high of $25.50. The company has a market capitalization of $577.28 million, a PE ratio of 45.40 and a beta of 0.82.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of Grid Dynamics stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the transaction, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at $3,448,520. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. lifted its stake in shares of Grid Dynamics by 236.9% in 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. purchased a new stake in Grid Dynamics during the 3rd quarter valued at $8,854,000. Alliancebernstein L.P. lifted its position in Grid Dynamics by 123.9% in 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. T. Rowe Price Investment Management Inc. boosted its stake in Grid Dynamics by 4,907,857.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock worth $9,307,000 after buying an additional 1,030,650 shares during the period. Finally, Fourth Sail Capital LP increased its position in Grid Dynamics by 36.2% during the fourth quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock valued at $34,567,000 after acquiring an additional 1,016,563 shares during the last quarter. 71.18% of the stock is owned by institutional investors.

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.