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

by · The Cerbat Gem

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) have earned an average recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.3333.

Several brokerages have recently commented on GDYN. JPMorgan Chase & Co. reduced their target price on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Needham & Company LLC cut their price target on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grid Dynamics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of Grid Dynamics in a research report on Monday, September 22nd. They issued a “buy” rating and a $11.00 price target for the company.

Get Our Latest Stock Report on Grid Dynamics

Institutional Investors Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in shares of Grid Dynamics by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after purchasing an additional 35,204 shares during the last quarter. Axiom Investors LLC DE bought a new stake in Grid Dynamics during the first quarter worth $3,876,000. Fourth Sail Capital LP grew its holdings in Grid Dynamics by 58.5% during the second quarter. Fourth Sail Capital LP now owns 1,623,562 shares of the company’s stock worth $18,752,000 after buying an additional 599,293 shares in the last quarter. Taylor Frigon Capital Management LLC raised its position in Grid Dynamics by 37.6% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 195,621 shares of the company’s stock valued at $2,259,000 after buying an additional 53,484 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Grid Dynamics during the 1st quarter valued at $1,472,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Up 3.6%

NASDAQ:GDYN opened at $10.06 on Friday. Grid Dynamics has a twelve month low of $7.37 and a twelve month high of $25.50. The company has a fifty day moving average of $8.46 and a 200-day moving average of $9.34. The firm has a market capitalization of $852.79 million, a P/E ratio of 67.07 and a beta of 0.85.

Grid Dynamics (NASDAQ:GDYN – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The business had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $103.64 million. During the same period last year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 19.1% on a year-over-year basis. On average, analysts anticipate that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Grid Dynamics Company Profile

(Get Free Report)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.

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