Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Rating of “Hold” by Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.00.

Several research firms have weighed in on GDYN. Citigroup restated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Needham & Company LLC reduced their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Weiss Ratings cut shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Jefferies Financial Group downgraded shares of Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Friday, May 29th. Finally, Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the firm’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 transaction of $35,480.00. Following the completion of the transaction, the chief operating officer owned 514,948 shares in the company, valued at $4,119,584. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,147 shares of company stock worth $46,323 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Grid Dynamics by 175.5% during 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Grid Dynamics by 273.2% in the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after acquiring an additional 2,634 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Grid Dynamics during the 2nd quarter worth about $43,000. Quarry LP boosted its stake in shares of Grid Dynamics by 57.1% during the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after purchasing an additional 1,757 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Grid Dynamics by 50.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock valued at $47,000 after purchasing an additional 1,742 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Down 0.2%

Shares of Grid Dynamics stock opened at $5.79 on Friday. The stock’s 50-day simple moving average is $6.31 and its 200-day simple moving average is $6.77. Grid Dynamics has a 52 week low of $5.11 and a 52 week high of $10.99. The company has a market capitalization of $484.19 million, a price-to-earnings ratio of 115.82 and a beta of 0.98.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm 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%.The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. On average, equities analysts expect that Grid Dynamics will post 0.1 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.