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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.60.

A number of research firms recently commented on GDYN. TD Cowen dropped their price objective on Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, March 6th. Needham & Company LLC decreased their target price on Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Zacks Research cut Grid Dynamics from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th.

Grid Dynamics Stock Performance

GDYN opened at $6.02 on Monday. The company has a fifty day moving average price of $7.35 and a two-hundred day moving average price of $8.13. The firm has a market capitalization of $513.81 million, a PE ratio of 60.20 and a beta of 0.84. Grid Dynamics has a 52 week low of $5.85 and a 52 week high of $17.04.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a return on equity of 1.46% and a net margin of 2.35%.The company had revenue of $106.15 million for the quarter, compared to the consensus estimate of $105.92 million. During the same quarter in the prior year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts forecast that Grid Dynamics will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock valued at $53,464,000 after buying an additional 279,995 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock worth $53,933,000 after acquiring an additional 112,319 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in 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 acquiring an additional 3,017,017 shares in the last quarter. Fourth Sail Capital LP grew its stake in Grid Dynamics by 36.2% in 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 period. Finally, Wellington Management Group LLP grew its stake in Grid Dynamics by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock valued at $21,282,000 after acquiring an additional 405,381 shares during the period. 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.