Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $10.60 Consensus PT from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.60.

A number of research analysts have recently commented on GDYN shares. TD Cowen lowered their price target on Grid Dynamics from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 6th. JPMorgan Chase & Co. decreased their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Northland Securities lowered their target price 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. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Finally, Zacks Research lowered shares of Grid Dynamics from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in shares of Grid Dynamics by 175.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after purchasing an additional 2,057 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Grid Dynamics in the third quarter valued at $31,000. GAMMA Investing LLC boosted its stake in Grid Dynamics by 273.2% during the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after buying an additional 2,634 shares in the last quarter. Quarry LP boosted its stake in Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after buying an additional 1,757 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Grid Dynamics during the second quarter worth about $43,000. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Trading Down 3.2%

Shares of NASDAQ GDYN opened at $6.02 on Monday. Grid Dynamics has a 12-month low of $6.00 and a 12-month high of $17.38. The company has a market cap of $513.81 million, a PE ratio of 60.20 and a beta of 0.84. The stock has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $8.16.

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

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.