Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $11.33

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.3333.

A number of analysts have recently weighed in on the stock. Needham & Company LLC dropped their target price on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, October 31st. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. cut their price objective on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $8.17 on Friday. Grid Dynamics has a 52-week low of $7.37 and a 52-week high of $25.50. The company’s 50 day moving average price is $9.18 and its 200-day moving average price is $8.67. The stock has a market capitalization of $692.57 million, a price-to-earnings ratio of 54.47 and a beta of 0.82.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The business had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $103.64 million. During the same quarter in the prior year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, equities research analysts forecast that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.50% of the company’s stock.

Institutional Trading of Grid Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Grid Dynamics by 5.0% during the 4th 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 period. Wasatch Advisors LP grew its stake in Grid Dynamics by 2.5% in the second 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. grew its stake in Grid Dynamics by 236.9% in 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 period. Dimensional Fund Advisors LP raised its holdings in Grid Dynamics by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,985,557 shares of the company’s stock worth $15,309,000 after purchasing an additional 105,950 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Grid Dynamics by 7.1% during the second quarter. Jennison Associates LLC now owns 1,966,828 shares of the company’s stock valued at $22,717,000 after buying an additional 129,961 shares during the period. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

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.