Grid Dynamics (NASDAQ:GDYN) Sets New 12-Month Low – What’s Next?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.85 and last traded at $6.1310, with a volume of 5768 shares. The stock had previously closed at $6.02.

Analysts Set New Price Targets

A number of research analysts have weighed in on GDYN shares. Northland Securities cut their price target on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, March 9th. Zacks Research downgraded shares of Grid Dynamics from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. JPMorgan Chase & Co. dropped their price objective on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Needham & Company LLC cut their price objective on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Grid Dynamics currently has an average rating of “Moderate Buy” and an average target price of $10.60.

Grid Dynamics Stock Performance

The stock has a market cap of $513.83 million, a price-to-earnings ratio of 60.20 and a beta of 0.84. The business has a 50-day simple moving average of $7.35 and a two-hundred day simple moving average of $8.13.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $106.15 million for the quarter, compared to the consensus estimate of $105.92 million. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

A number of large investors have recently modified their holdings of the business. Amundi bought a new position in shares of Grid Dynamics in the 1st quarter valued at about $252,000. AQR Capital Management LLC raised its holdings in Grid Dynamics by 32.4% during the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock worth $242,000 after acquiring an additional 3,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Grid Dynamics by 12.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock worth $573,000 after acquiring an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Grid Dynamics by 12.4% during the first 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 boosted its position in Grid Dynamics by 35.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock valued at $2,546,000 after purchasing an additional 42,801 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.