Northland Securities Cuts Grid Dynamics (NASDAQ:GDYN) Price Target to $12.00

Grid Dynamics (NASDAQ:GDYN) had its price objective lowered by Northland Securities from $14.00 to $12.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

GDYN has been the subject of several other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Needham & Company LLC reduced 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. JPMorgan Chase & Co. lowered their target price 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. Finally, TD Cowen dropped their target price on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.60.

Grid Dynamics Stock Up 5.8%

NASDAQ:GDYN opened at $6.62 on Monday. The business’s 50-day simple moving average is $7.81 and its two-hundred day simple moving average is $8.22. Grid Dynamics has a 52 week low of $6.00 and a 52 week high of $17.91. The stock has a market cap of $561.17 million, a PE ratio of 66.20 and a beta of 0.84.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in Grid Dynamics during the third quarter valued at $1,199,000. Fourth Sail Capital LP lifted its position 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 valued at $18,752,000 after purchasing an additional 599,293 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Grid Dynamics in the 2nd quarter worth $2,565,000. Integrated Quantitative Investments LLC increased its holdings in shares of Grid Dynamics by 56.7% in the 2nd quarter. Integrated Quantitative Investments LLC now owns 94,254 shares of the company’s stock worth $1,089,000 after buying an additional 34,097 shares during the last quarter. Finally, CenterBook Partners LP increased its holdings in shares of Grid Dynamics by 169.1% in the 2nd quarter. CenterBook Partners LP now owns 308,317 shares of the company’s stock worth $3,561,000 after buying an additional 193,733 shares during the last quarter. 71.18% of the stock is currently 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.