Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Rating of “Hold” by Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.40.

Several equities research analysts have recently commented on the company. Citigroup reissued a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. TD Cowen decreased their price target on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Needham & Company LLC decreased their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings cut Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $6.55 on Friday. The business’s 50 day simple moving average is $6.27 and its 200-day simple moving average is $7.45. The firm has a market capitalization of $547.78 million, a price-to-earnings ratio of 131.03 and a beta of 0.94. Grid Dynamics has a 12 month low of $5.13 and a 12 month high of $12.86.

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

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.00, for a total transaction of $35,480.00. Following the sale, the chief operating officer owned 514,948 shares in the company, valued at approximately $4,119,584. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,147 shares of company stock worth $45,389. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grid Dynamics

A number of large investors have recently bought and sold shares of GDYN. Amundi acquired a new stake in Grid Dynamics during the 1st quarter valued at $252,000. AQR Capital Management LLC grew its holdings in Grid Dynamics by 32.4% during the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after buying an additional 3,791 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $573,000 after buying an additional 4,116 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after buying an additional 35,204 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 valued at $2,546,000 after buying an additional 42,801 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.