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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.00.

GDYN has been the topic of several recent analyst reports. Jefferies Financial Group downgraded shares of Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Friday, May 29th. TD Cowen dropped their target price on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Weiss Ratings lowered Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC decreased their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 1st.

Grid Dynamics Trading Up 1.4%

Grid Dynamics stock opened at $5.69 on Friday. Grid Dynamics has a 12-month low of $5.11 and a 12-month high of $10.60. The firm has a market capitalization of $475.85 million, a price-to-earnings ratio of 113.82 and a beta of 0.98. The firm has a 50 day moving average of $6.22 and a 200 day moving average of $6.66.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, analysts predict that Grid Dynamics will post 0.1 EPS for the current year.

Insider Activity

In related news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction dated 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 sale, the chief operating officer owned 514,948 shares in the company, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,147 shares of company stock worth $46,323 in the last three months. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDYN. FNY Investment Advisers LLC purchased a new stake in Grid Dynamics during the 2nd quarter valued at approximately $99,000. Mirador Capital Partners LP lifted its holdings in shares of Grid Dynamics by 10.6% in the second quarter. Mirador Capital Partners LP now owns 189,086 shares of the company’s stock worth $1,074,000 after buying an additional 18,108 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Grid Dynamics in the first quarter worth $884,000. Bank of America Corp DE lifted its holdings in shares of Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after buying an additional 157,767 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Grid Dynamics by 460.4% during the first quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock worth $1,176,000 after acquiring an additional 169,477 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.