Grid Dynamics (NASDAQ:GDYN) Stock Price Target Raised at JPMorgan Chase & Co.

Grid Dynamics (NASDAQ:GDYN) had its price target upped by analysts at JPMorgan Chase & Co. from $8.00 to $11.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 17.66% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Needham & Company LLC raised their price objective on Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen raised their price target on Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday. Finally, Zacks Research downgraded shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.80.

Grid Dynamics Stock Performance

GDYN traded up $3.87 during midday trading on Friday, reaching $13.36. The company had a trading volume of 8,563,175 shares, compared to its average volume of 1,705,833. The stock has a market cap of $1.08 billion, a PE ratio of 668.33 and a beta of 0.97. Grid Dynamics has a 12-month low of $5.11 and a 12-month high of $13.39. The business has a 50-day moving average price of $8.01 and a two-hundred day moving average price of $6.98.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $114.29 million during the quarter, compared to the consensus estimate of $112.77 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. On average, research analysts anticipate that Grid Dynamics will post 0.20 earnings per share for the current year.

Insider Activity

In other news, COO Yury Gryzlov sold 4,849 shares of Grid Dynamics stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.00, for a total transaction of $38,792.00. Following the transaction, the chief operating officer owned 495,290 shares in the company, valued at $3,962,320. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 14,409 shares of company stock worth $115,625. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Grid Dynamics by 76.4% during the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock valued at $2,077,000 after buying an additional 157,767 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Grid Dynamics in the 1st quarter worth $884,000. Walleye Capital LLC acquired a new position in shares of Grid Dynamics in the first quarter valued at approximately $1,007,000. Quantinno Capital Management LP raised its position in Grid Dynamics by 460.4% during the first quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock worth $1,176,000 after acquiring an additional 169,477 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Grid Dynamics in the 2nd quarter valued at $2,702,000. 71.18% of the stock is owned by institutional investors.

Trending Headlines about Grid Dynamics

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Grid Dynamics reported adjusted earnings of $0.18 per share, above the $0.12–$0.13 consensus range and up from $0.09 a year earlier. Revenue reached $114.29 million, topping the $112.77 million estimate. Grid Dynamics Q3 earnings report
• Positive Sentiment: Record quarterly performance and constructive guidance supported the rally. Company coverage characterized the quarter as a record result, while management’s outlook for the next quarter was described as optimistic, reinforcing expectations for continued growth. Grid Dynamics record third-quarter results
• Positive Sentiment: TD Cowen raised its price target and initiated a Buy recommendation. The firm increased its target from $9 to $13, signaling improved confidence in Grid Dynamics’ earnings and growth prospects. TD Cowen analyst recommendation
• Positive Sentiment: The company launched a business process consulting practice. The new offering could broaden Grid Dynamics’ services and create additional opportunities to win enterprise transformation work. Grid Dynamics consulting practice launch
• Neutral Sentiment: Despite the Buy rating, TD Cowen’s $13 target is slightly below the stock’s current trading level, indicating that much of the near-term optimism may already be reflected in the shares.
• Negative Sentiment: Grid Dynamics remains richly valued relative to reported profitability, with a very high price-to-earnings ratio and a net margin below 1%, leaving the stock sensitive to any slowdown in growth or weaker future guidance.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.