Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $11.33 Average PT from Analysts

by · The Cerbat Gem

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) have been given an average rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.3333.

A number of brokerages have recently weighed in on GDYN. Jefferies Financial Group started coverage on Grid Dynamics in a report on Monday, September 22nd. They set a “buy” rating and a $11.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Needham & Company LLC dropped their target price on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th.

View Our Latest Stock Report on GDYN

Grid Dynamics Price Performance

GDYN stock opened at $8.83 on Wednesday. The firm has a market capitalization of $748.52 million, a P/E ratio of 58.87 and a beta of 0.82. Grid Dynamics has a 52-week low of $7.37 and a 52-week high of $25.50. The company’s 50 day simple moving average is $8.94 and its 200-day simple moving average is $9.02.

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

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 4,368 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total transaction of $43,680.00. Following the completion of the sale, the chief financial officer directly owned 344,852 shares in the company, valued at approximately $3,448,520. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Grid Dynamics by 3.7% during the 1st quarter. Northern Trust Corp now owns 882,826 shares of the company’s stock valued at $13,816,000 after buying an additional 31,099 shares during the last quarter. Hsbc Holdings PLC raised its position in Grid Dynamics by 71.0% during the first quarter. Hsbc Holdings PLC now owns 30,018 shares of the company’s stock valued at $464,000 after acquiring an additional 12,459 shares in the last quarter. Corebridge Financial Inc. lifted its stake in Grid Dynamics by 5.2% in the first quarter. Corebridge Financial Inc. now owns 32,159 shares of the company’s stock valued at $503,000 after acquiring an additional 1,583 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Grid Dynamics in the first quarter worth approximately $1,472,000. Finally, Amundi acquired a new position in shares of Grid Dynamics during the 1st quarter worth $252,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Company Profile

(Get Free Report)

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.

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