Grid Dynamics (NASDAQ:GDYN) Stock Price Up 8% – Should You Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) shares were up 8% during mid-day trading on Wednesday . The company traded as high as $6.04 and last traded at $6.1320. Approximately 172,612 shares changed hands during trading, a decline of 91% from the average daily volume of 1,876,522 shares. The stock had previously closed at $5.68.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GDYN shares. Needham & Company LLC cut their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Northland Securities cut their price objective on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Weiss Ratings cut 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 report on Wednesday, May 6th. Finally, Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.40.

Grid Dynamics Stock Up 11.9%

The firm has a market cap of $531.47 million, a price-to-earnings ratio of 127.33 and a beta of 0.94. The company has a 50 day moving average of $6.34 and a 200 day moving average of $7.08.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The firm had revenue of $104.10 million during the quarter, compared to analyst estimates of $103.32 million. During the same quarter last year, the firm earned $0.11 EPS. Grid Dynamics’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $8.00, for a total value 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. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,147 shares of company stock worth $45,389 over the last three months. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Grid Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its holdings in Grid Dynamics by 175.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock worth $29,000 after buying an additional 2,057 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Grid Dynamics by 273.2% during the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after acquiring an additional 2,634 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Grid Dynamics during the second quarter worth $43,000. Quarry LP lifted its stake in Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after purchasing an additional 1,757 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Grid Dynamics by 50.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock worth $47,000 after purchasing an additional 1,742 shares during the period. 71.18% of the stock is 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.