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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.40.

A number of brokerages have weighed in on GDYN. JPMorgan Chase & Co. lifted their target price on Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. TD Cowen raised their price target on Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research raised shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a report on Friday, July 31st.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $8.06 on Monday. The firm has a market cap of $653.91 million, a PE ratio of 403.20 and a beta of 0.89. The firm’s 50 day simple moving average is $6.87 and its 200-day simple moving average is $6.48. Grid Dynamics has a one year low of $5.11 and a one year high of $10.21.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $108.16 million during the quarter, compared to the consensus estimate of $106.55 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. Equities research analysts predict that Grid Dynamics will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Yury Gryzlov sold 3,918 shares of Grid Dynamics stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $8.00, for a total value of $31,344.00. Following the transaction, the chief operating officer directly owned 503,070 shares in the company, valued at approximately $4,024,560. This trade represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,560 shares of company stock worth $74,132 in the last ninety days. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its holdings in Grid Dynamics by 523.4% in the second quarter. California State Teachers Retirement System now owns 396,754 shares of the company’s stock worth $2,254,000 after purchasing an additional 333,113 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Grid Dynamics during the second quarter valued at about $234,000. Summit Creek Advisors LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at about $2,452,000. FNY Investment Advisers LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at about $99,000. Finally, Mirador Capital Partners LP grew its position in shares of Grid Dynamics by 10.6% in the 2nd quarter. Mirador Capital Partners LP now owns 189,086 shares of the company’s stock worth $1,074,000 after buying an additional 18,108 shares during the last quarter. Hedge funds and other institutional investors 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.