Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.00.

Several research firms have recently commented on GDYN. Needham & Company LLC dropped their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. dropped their price target on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the transaction, the chief financial officer directly owned 344,852 shares in the company, valued at approximately $3,448,520. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Grid Dynamics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after acquiring an additional 279,995 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Grid Dynamics by 2.5% during the 2nd quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock worth $53,933,000 after purchasing an additional 112,319 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of Grid Dynamics by 236.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after purchasing an additional 3,017,017 shares during the last quarter. Fourth Sail Capital LP boosted its holdings in shares of Grid Dynamics by 36.2% during the fourth quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after purchasing an additional 1,016,563 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Grid Dynamics by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock valued at $21,282,000 after purchasing an additional 405,381 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Down 9.5%

Grid Dynamics stock opened at $6.16 on Thursday. Grid Dynamics has a 52 week low of $6.11 and a 52 week high of $21.70. The firm’s 50-day simple moving average is $8.44 and its 200 day simple moving average is $8.32. The firm has a market capitalization of $522.18 million, a PE ratio of 41.07 and a beta of 0.82.

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.