Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Price Target at $9.40

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.40.

Several brokerages recently weighed in on GDYN. TD Cowen cut their price objective on shares of Grid Dynamics from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Needham & Company LLC cut their price objective on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Northland Securities cut their price objective on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th.

Insiders Place Their Bets

In related news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the sale, the chief operating officer directly owned 514,948 shares in the company, valued at $4,119,584. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,147 shares of company stock valued at $45,389. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Grid Dynamics

Hedge funds have recently bought and sold shares of the company. Amundi bought a new stake in shares of Grid Dynamics during the 1st quarter worth about $252,000. AQR Capital Management LLC raised its position in shares of Grid Dynamics by 32.4% during the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock worth $242,000 after buying an additional 3,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Grid Dynamics by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock worth $573,000 after buying an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after buying an additional 35,204 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Grid Dynamics by 35.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock worth $2,546,000 after buying an additional 42,801 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $5.68 on Wednesday. Grid Dynamics has a one year low of $5.11 and a one year high of $12.86. The company has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $7.08. The firm has a market capitalization of $475.02 million, a PE ratio of 113.62 and a beta of 0.94.

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

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.